Possible big NG explosion upwards.Three touches on each side of the wedge, perfectly touched the uptrend line, as well as a storage report coming out after market close tomorrow. Due to falling wedge and bull price action since last march i am leaning long-side here, but do your own due diligence and watch the movement after the report. If price takes off upwards i would expect quite the move here.
NGG2017
Nat Gas HVFWorth keeping an eye on the tightening range here.. A break has the respective HVF target in its direction. Targets line up surprisingly well with the extremes. I will be watching close to potentially start a position here in coming days.
Changing weatherNatgas has been on a great run because of the cold area over Canada that may enter the USA. However last two days it has become less like to enter the plains. As natgas is overbought, calendar spreads showing relative weakness, and larger than normal volumes in inverse etfs, all these factors support my opinion of warmer weather next week. aka lower natgas prices.
