Natural Gas (XNGUSD) discussion
NATGAS Although there are some technical reasons to be bearish, ultimately prices will go higher. The big guys know this.Here is the current forward pricing for the months ahead, this is used for Futures contracts and Export orders. We can reasonably expect price to head to these levels.
October $2.3
November $2.6
December $3.05
January $3.3
From there, price expected to remain above $3.2 for 2025.
NATURALGAS It's had a good run, but indicators are showing divergence. I estimate a pullback back to 2400. Don't hate the messenger.NATGAS Pretty crazy rally considering the slight miss. I expect next week to be even better. Here is why.The estimate for next week is 48bcf. The 5 year average is 88bcf.
That would put us at around 6.9%, down from 8.6%. Super bullish.
The week after that is expected to be even better due to large export orders due for that week.
NATURALGAS any news regarding ng
NATGASUSD phew! finallyNATGAS Sorry for all the posts 😂The market is obviously looking past the miss, which was cause by the Hurricane disruption.
The fact is the storage glut is continuing to go away gradually.
Next weeks report estimates are already coming out and look like a 48bcf injection, which is highly bullish. The next 4 weeks after that look similar.
Winter is also around the corner, and it's looking more and more like it'll be a cold and snowy one.
Again, the only thing that could derail this rally is another Hurricane, which is possible as of writing this.
NATGAS This report puts us pretty much exactly at 8.6% above the 5 year average, down from 9.6% last week.So technically it's progress, but a miss as far as estimates go.
Keep an eye out on the potential Hurricane development in the Gulf, it could be a big one.
NATGAS Bearish miss. Expectations was for 53bcf
We got 58bcf.
The 5 year average is 80bcf
We've also got the potential for another Hurricane forming in the Gulf over the next 8 days.
The Gulf is where the majority of Export Terminals are.
NATGAS Becareful getting too bearish. Analysts have been very wrong for the last 2 reports. It could be a very bullish miss or a very bearish miss.We'll know shortly.
The range estimate is 28bcf to 65bcf. Which is kinda crazy.
NATURALGAS Sell natural gas. Inventory will be high. Fed rate cut did cause oil to shoot up but natural gas broke it's days low. This says a lot... May be next month, there will be some better catalyst for NG to go up.