Natural Gas - Winter Contracts
Updated
Winter contracts for Natural Gas are already trading near the pivotal $3.00 level.
If Winter this year turns out to be average prices will likely sell off towards $2.50 (the 200 Day EMA).
However, if production continues to fall and Winter is cold enough, prices can break above $3.00 and complete the parabolic move that is forming.
If the latter happens, I see prices for December(Z) contracts topping out around $3.10 - $3.30
February(F) I see topping out around $3.40 - $3.60
I'm looking for a buying opportunity on the December contract and praying for a cold November to sell it in.
If Winter this year turns out to be average prices will likely sell off towards $2.50 (the 200 Day EMA).
However, if production continues to fall and Winter is cold enough, prices can break above $3.00 and complete the parabolic move that is forming.
If the latter happens, I see prices for December(Z) contracts topping out around $3.10 - $3.30
February(F) I see topping out around $3.40 - $3.60
I'm looking for a buying opportunity on the December contract and praying for a cold November to sell it in.
Note
Typo: The blue overlay is the January(F) contract, not February(G)Trade active
Starting to build long position on December(Z)+1 @ $2.82
Trade closed manually
Today I took profits on this position as prices shot up to $3.00 sooner than I expected.-1 @ $2.99
Profit: $425
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