NATGAS As of today, we're officially in Natgas surplus. Remember 2 months ago, "The EIA expect price to average $4.2 and a deficit most of the year". "JP Morgan analyst expect natgas to average $5 in 2025".
Such corrupt losers. This was so easy to forecast. Almost as easy as buying when price was at $1.5.
NATURALGAS technical attempt to reversal from downtrend but with below average volume. Today we had a new confirmation of 3.10 - 3.00 as support with price making a market shift and break of structure at 15m after it bounced up from the historical support of 3.00 the previous day. However, technicals and market structure at 4h are bearish, also the move upwards at the 15m intraday occurred with volume below the average line. This for me suggests caution - perhaps is a good time to take some shorts profits but I will need further confirmation if I am to enter long. For a short entry I'm looking at resistance and rejection from 3.20. For a long entry I'm looking at retest and hold of 3.10-3.00. Good luck everyone!
NATURALGAS Trading hours for Natural Gas futures typically end at 1:30 PM CST on the expiration date. If you're in the Eastern Time Zone, this would be 2:30 PM EST.
NATGAS As I mentioned before, we're officially in a surplus as of today.
