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Natural Gas (NGS) / US DollarNatural Gas (NGS) / US DollarNatural Gas (NGS) / US Dollar

Natural Gas (NGS) / US Dollar

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Long Natural Gas based on temperature decrease in USFundamental: 15.01.23 Weather reports point to the possibility of a further drop in gas prices amid forecasts indicating the likelihood of unusually mild temperatures in the United States through mid-January, Gelber's note said. 16.01.23 After consecutive weekly declines at the start of the new year, natural gas futures rebounded on Tuesday amid expectations of more cold spells later this month. The spot price fell about 27.6 cents on Friday after several days of unusually warm weather to start 2023. Production also proved strong and stood at around 101 billion cubic feet per day. It remained near record levels of around 102 billion cubic feet per day. However, natural gas prices are more than 50% lower than they were just a month ago, and for futures contracts to maintain an upward trajectory, cold air needs to arrive soon and other February predictions may need to be made. The U.S. National Oceanic and Atmospheric Administration's eight-to-14-day forecast calls for below-average temperatures in the western, midwestern and southwestern parts of the lower 48 states. 18.01.23 US gas prices are rising today (knowing that volumes are limited due to MLK Day), while European prices are falling sharply. There are new weather forecasts for the last week of January in the United States. Temperatures are expected to drop significantly across most of the United States, to below average levels. It turns out that February could bring more volatility for natural gas. Seasonality indicates two local troughs (cold winds) - January 21 and February 4. "Looking ahead, it's not out of the question that NYMEX gas futures will return to $5 mmBtu or higher, but it will take a lot of arctic air to dominate the nation for several weeks," adds Gelber's note. "Conversely, if the weather forecast models revert to a longer spell of warmth, this would set the stage for new lows for NYMEX gas futures." Technical: - RSI over 30.0 + Standard deviation increasing (high volatility) - High volume at $3.54 - Support reached
CAPITALCOM:NATURALGASLong
by thefrenchsniper
1
NATURAL GAS: It seems that the price may reach 2.5 soonNATURAL GAS: It seems that the price may reach 2.5 soon For a long period of time, Natural Gas is in a clear downtrend. It looks like it was a selling opportunity in all the bullish moves that Natural Gas created. As you may see on the weekly chart the price closed a red candle week after week and it is very dangerous to suppose any bullish move in these conditions. Price already broke down also from 3.5 which is a strong structure zone. Considering that many factors probably we could see Natura Gas to move down up to $2.5 that is dating back in August 2020. Thank you and Good Luck!
NShort
by KlejdiCuni
11
NatGas is Crashing. How Low Can We Go?In 2005, hedge fund Amaranth booked a profit of $1bn trading Natgas. A year later, it collapsed with $6bn loss as the Widowmaker fell from 16.3 to 4.5. Two years later the price dropped from 14 to 3, a 79% dive. In my previous posts I kept talking about bear flags and shorting NatGas. However I believed that max pain was 3.5, which is 65% from the top - August 2022 - how could it go down further, I thought. Well, now looking at historical data, I've changed my mind. There's nothing to stop the Widowmaker from going to $1 this year.
NShort
by davidb31
10