NATURAL GAS CFD forum
NATGAS Weekend update
Exports have come off from their 14.6bcf high down to 13.9bcf.
Production has steadily increased to 104.2bcf.
I'd guess just from those 2 facts, that we may see a gap lower on Monday and or continued selling.
The weather forecasts and models over the weekend show several snow storms this week, and regular snow storms till January.
I suspect the near term storms have been mostly priced in. The weather is trending extremely cold on each revision and model run.
That will likely limit selling or make it very choppy.
Monday's price action will be key for me. Do we continue down from the strong bearish engulfing candle from Friday, or does price recover Friday's losses. I'd be leaning towards a continuation lower.
We are several deviations from the mean.
The unknown timing of the 2 new export terminals is the main reason I'd be suggesting not to Short.
Plaquemines is imminently opening. Could be tomorrow, could be during the day or overnight. Nobody really knows. Corpus Christi stage 3 is likely late December.
Once it's announced that these 2 terminals are open, as I've mentioned several times before, we'll see a very sudden surge higher. Probably something around 6% to 10% . All we know for certain is they're due to open before Christmas.
Good luck!
NATGAS The weather forecast in the US is absolutely laughable. The weather forecast probably brings the shamans there. Unbelievable what they can lie and then change it
NATURALGAS Hey guys, I’m trading NG with ETFs HNU.TO it is going to Split 1:12
Should I hold or sell?
Any suggestions would be helpful
NATURALGAS Start adding longs
NATGASUSD nice short trade for me.I'm out now.. let's see where we go from here
NATGAS Production has picked up a lot today, sitting at 104bcf. The highest in about 9 months.
That said, exports are now also the highest in 10 months at 14.6bcf.
We've move almost 40% in 5 days. We're well overdue for consolidation / a decent pullback. I wouldn't be surprised if we revisited $3.
The forecast EIA injection for December are continuously being revised down (bullishly)
1st week forecast -175bcf, 5 year average is -71bcf.
2nd week -180bcf, 5 year average is -92bcf
Subject to change.
It'll be interesting to see if the producers shut this rally down over the weekend by beginning to overproduce again, or if this is a temporary production spike.
It's not enough right now to crush this rally, but it's enough to give everyone a reason to take profit before the weekend.
NATGAS Red Day or Green Day?
NATURALGAS just like I expected lol 🔴📉
NATGAS Finally... the correction we are all waiting for.. Robpoll you in today or you will wait til next Monday?