Natural gas - expect one last crash before upside
The latest CBOE data shows that hedge funds and large speculators have increased their short positions.
This usually means that there will be a large drop coming in the next few trading sessions.
Retail traders and non-commercials are 84% long and 16% short. This means that there is plenty of liquidity to grab in the $1.80 to $2.10 region.
I'm not saying $1.80 is likely, but too many traders are disregarding it as a possibility. I still think one more dip to $2.10 is the most likely scenario given the futures data.
This usually means that there will be a large drop coming in the next few trading sessions.
Retail traders and non-commercials are 84% long and 16% short. This means that there is plenty of liquidity to grab in the $1.80 to $2.10 region.
I'm not saying $1.80 is likely, but too many traders are disregarding it as a possibility. I still think one more dip to $2.10 is the most likely scenario given the futures data.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.