Gas Crosses Psych Barrier

January 15, 2024

Some analysts believe that round number psychological barriers are a factor in markets.  The view is that round numbers serve as either support or resistance levels, and that prices may resist crossing these barriers.  Naysayers don’t believe that mass psychology exists in the marketplace.  Last week, natural gas futures pierced the $3.00/mmbtu level.  The coming weeks will feed the debate on whether two zeros (00) as the trailing digits makes a difference.