tanc87
Long

Natgas channel - almost time to go long

OANDA:NATGASUSD   CFDs on Natural Gas
Natgas has been trending lower between perfectly parallel channel lines since February. The next bottom is at 2.01, after which you would expect a bounce to an upper channel resistance of 2.34. This is just on a technical basis. On a fundamental basis, the price has gotten dirt cheap with a lot of natgas producers unprofitable here, meaning a bullish direction reversal could happen any time now, and the bottom of 2.01 on the channel could never be reached. Remember inventories are below 5 year averages and we are trending towards end of summer, with winter stocking not so far away now
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