Natural Gas forum
The next 4 weeks reports are the most bearish I've seen in many months.
This week we're expecting a 115bcf injection.
5 year average is 58bcf.
The weeks after are equally or even worse.
I'm shorting these rallies pretty hard.
We're going to be in a strong surplus in very quickly.
I'm expecting a 200bcf to 300bcf surplus for the rest of the year.
Price between $2.2 and $3.
Or you can listen to the Hedge Funds and EIA, but you would be broke by now if you did.
Remember 2 months ago, "The EIA expect price to average $4.2 and a deficit most of the year".
"JP Morgan analyst expect natgas to average $5 in 2025".
Such corrupt losers. This was so easy to forecast.
Almost as easy as buying when price was at $1.5.
However, technicals and market structure at 4h are bearish, also the move upwards at the 15m intraday occurred with volume below the average line. This for me suggests caution - perhaps is a good time to take some shorts profits but I will need further confirmation if I am to enter long.
For a short entry I'm looking at resistance and rejection from 3.20.
For a long entry I'm looking at retest and hold of 3.10-3.00.
Good luck everyone!
PS From left to right, 1w, 4h, 15m charts
