For ngq, 2.750 is major support that held on Friday. 

Natural gas is BREAKING the uptrend line from the Dec 2017 lows, just above 2.6,  connecting to the higher lows in Feb. just below 2.7, then the higher lows in May at 2.727.

Natural gas 3 months

Naturalgas 1 year below

Naturalgas 5 years below

Naturalgas10years below

From last Thursday:

EIA Storage Build Lighter Than Surveys, But Natural Gas Futures Market Not Impressed

Weekly Natural Gas Storage Report  +51

 for week ending July 6, 2018   |  Released: July 12, 2018 at 10:30 a.m.   |  Next Release: July 19, 2018 

Storage is near the bottom of the 5 year average and over 700 billion cubic feet less than a year ago!

Seasonals based on historical prices..........this graph is pretty old.

These temperatures below cover the period for this last EIA report  It was a hot week! The next one will not be so hot.

Below, they are broken down into Highs/Lows for the same 7 day period:

The temperatures below cover the period that will be reported from the EIA this next Thursday. Heat out west across the Plains to the Upper Midwest. A bit cool i the East.

July 10, 2018

Short-Term Energy Outlook From US Energy Information Administration:

https://www.eia.gov/outlooks/steo/

• U.S. dry natural gas production averaged 73.6 billion cubic feet per day (Bcf/d) in 2017. EIA forecasts dry natural gas production will average 81.3 Bcf/d in 2018, which would establish a new record. EIA expects natural gas production will rise by an additional 3.1 Bcf/d in 2019 to 84.5 Bcf/d.
• The Henry Hub natural gas spot price averaged $2.97/million British thermal units (MMBtu) in June. EIA expects Henry Hub natural gas spot prices to average $2.99/MMBtu in 2018 and $3.04/MMBtu in 2019. NYMEX futures and options contract values for October 2018 delivery that traded during the five-day period ending July 5, 2018, suggest a range of $2.37/MMBtu to $3.59/MMBtu encompasses the market expectation for October Henry Hub natural gas prices at the 95% confidence level.
• EIA expects the share of U.S. total utility-scale electricity generation from natural gas-fired power plants to rise from 32% in 2017 to 34% in 2018 and to 35% in 2019. In this outlook, coal's forecast share of electricity generation falls from 30% in 2017 to 28% in 2018 and to 27% in 2019. The nuclear share of generation was 20% in 2017 and is forecast to be slightly less than that share in 2018 and in 2019. Nonhydropower renewables provided slightly less than 10% of electricity generation in 2017 and are expected to provide more than 10% in 2018 and nearly 11% in 2019. The generation share of hydropower was 7% in 2017 and is forecast to be slightly less than that share in 2018 and in 2019.
• After declining by 0.9% in 2017, EIA forecasts that energy-related carbon dioxide (CO2) emissions will increase by 1.8% in 2018 and decrease by 0.5% in 2019. Energy-related CO2 emissions are sensitive to changes in weather, economic growth, energy prices, and fuel mix.