Fundamental rationale:
Stocks: +117 Bcf above average, bearish pressure.
LNG exports: Decline by 1.1 Bcf/d, reinforces the bearish sentiment.
Weather: Warm weather, weak demand (-0.2 Bcf/d).
COT: Net positions of Managed Money -113.9K (May 27), short positions dominate, supporting the bearish scenario.
LNG terminals have been serviced, which reinforces the bearish background.
Conclusion: Bearish sentiment due to stocks, exports and COT.
The technical picture
The mirror level is 3.80 .
False breakout of 3.80 $3.80, long shadows.
An upward wedge on H2.
ATR 0.20 (+25% above average), correction risk.ADX ~20, VWAP ($3.76) confirms the bearish signal.
stop ATR based .
Take 1 to 3 and 1 to 5
Stocks: +117 Bcf above average, bearish pressure.
LNG exports: Decline by 1.1 Bcf/d, reinforces the bearish sentiment.
Weather: Warm weather, weak demand (-0.2 Bcf/d).
COT: Net positions of Managed Money -113.9K (May 27), short positions dominate, supporting the bearish scenario.
LNG terminals have been serviced, which reinforces the bearish background.
Conclusion: Bearish sentiment due to stocks, exports and COT.
The technical picture
The mirror level is 3.80 .
False breakout of 3.80 $3.80, long shadows.
An upward wedge on H2.
ATR 0.20 (+25% above average), correction risk.ADX ~20, VWAP ($3.76) confirms the bearish signal.
stop ATR based .
Take 1 to 3 and 1 to 5
Хочешь хороших денег – умей выжидать
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.
Хочешь хороших денег – умей выжидать
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.