In the past week, we introduced a long idea for NATGAS. Those who entered the position have been able to realize a gain of more than 6%.
While we initially anticipated prices well above 3,000, we have since abandoned that target and are now leaning towards the short side. The rationale behind this shift lies in the inability of the price to breach bearish order blocks and establish an upward trend.
On the fundamental front, the winter remains exceptionally mild, leading to a decline in NATGAS demand.
Considering seasonality as well, we anticipate that the price of NATGAS will trend towards the lows observed in April 2023.
While we initially anticipated prices well above 3,000, we have since abandoned that target and are now leaning towards the short side. The rationale behind this shift lies in the inability of the price to breach bearish order blocks and establish an upward trend.
On the fundamental front, the winter remains exceptionally mild, leading to a decline in NATGAS demand.
Considering seasonality as well, we anticipate that the price of NATGAS will trend towards the lows observed in April 2023.