NG - Bear Scenario
Celsius projects End of Season storage to be 4141 BCF - "Single most bearish projected inventories in 25 years"
celsiusenergy.net/p/blog-page_1.html
The winter contracts recently rallied over $3.00 and are now looking to fall into a correction.
Further production cuts are looming and Summer demand approaching however, the bull scenario might not materialize until next year. Especially if Covid keeps popping up, all bad.
Short term trade setups are ideal. If price falls there should be a nice technical bounce off the 1.48 fib below.
If there's a break above, $1.94 and $2.03 are sell points.
celsiusenergy.net/p/blog-page_1.html
The winter contracts recently rallied over $3.00 and are now looking to fall into a correction.
Further production cuts are looming and Summer demand approaching however, the bull scenario might not materialize until next year. Especially if Covid keeps popping up, all bad.
Short term trade setups are ideal. If price falls there should be a nice technical bounce off the 1.48 fib below.
If there's a break above, $1.94 and $2.03 are sell points.
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