Natural Gas (XNGUSD) discussion
NATURALGAS id be very cautious shorting at this price, yes there might be room for further drop but its in oversold territory
NATURALGAS deeply bearish outlook but with a double bottom right at the 50 day ema. I might enter for a quick buy scalp on Monday, if the 50 day holds. If price gets rejected from the previous broken support (red box in the chart) or the 50 day ema breaks then I will enter short. Good luck everyone!
NATGAS Just letting you guys know, there's some chatter going around that has stoked massive fear in natgas traders.The chatter has been that before winter, we might see some triple digit storage injections. That would effectively undo all the production cuts from the last 4 to 6 weeks.
Right now, I don't see anything in the storage projections that is showing that right now.
The highest injection i see is the storage report 2 weeks from now.
Fear has gripped this market, everyone is flinching at any sign of bad news.
I saw some people talking about another Hurricane hitting Florida again next week. Not a single model shows that it's even remotely likely, but thats where we are. Pure fear.
If that changes, I'll let you know of course
NGAS 2.2 is normally a great buying zone for me, ill be entering a 30% position there then my next 30% at $2 if it ever gets there. The lower it goes the cheaper it gets, dont over leverage yourself otherwise gas will sting ya
NATURALGAS am all in at 2.6NATGAS I suspect that the producers know something we don't. Maybe Plaquemines is closer to opening then we know.After everything they've been through, cutting production for almost 2 years. To start spinning up a lot more than the market needs would be only for 1 reason. The Export terminals coming online.
By the looks of it, market doesn't care about the new terminals. Probably because we don't have an actual opening date for either Corpus Christi or Plaquemines. Only roughly the months.
Production is forecast to level out at 105bcf.
Tbh I'm ok with this. Just gives me an even better buying point. Although I can understand the markets fear.
NATURALGAS My issue with longing right now is we are well and truly in a Daily Fair Value Gap from Fri 20th Sept... feels like that might need to close prior to any move up...
NATURALGAS fuck nggggggNATGAS Pretty bad news for the bull.Exports are strong at 14bcf
Production is at 103.1bcf. Pretty bearish considering there is nowhere for it to go yet.
Todays demand is 96bcf.
NATGAS Potentially consolidating. Sticking my neck out here and calling this the low.We're pretty close to last years December low.
I wouldn't be surprised if we bottomed here or just a little lower.
A lot has been baked in. Last year was one of the warmest on record. This year is expected to be a lot cooler. Logically, I can't see a "Weather" reason to head lower.