Nat Gas Trade... July 18 2024I looked at this trade yesterday, and think we are at a good entry point. The last contract rollover was Wed June 26 and it was above $2.80. Nat Gas is now trading at $2.08 and the next rollover is July 29th. I suspect Nat Gas can rise going into that contract.
Here is a longer-term chart,
There is a Leveraged ETN in Canada that I like to trade (already up 5% from yesterday's low), and one for the US which doesn't have as much leverage... else Nat Gas producers is an option.
Hurricane season is coming which could shut down production, so inventory has been high, thus the low price, but I suspect this low price can't stay low for too long, maybe a few more days down here, and then start to rise next week.
There is a big gap between 1.60 and 1.98, which is a concern, and usually, markets like to fill the gap, but based on the technicals, we hit the bottom of the Bollinger band and the price is due for a bounce going into the end of July Contract rollover.
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