NATURAL GAS - Time to Pipeline a Short Position!
Natural gas prices have soared in Europe in the past year, adding to inflationary pressure and threatening to dent consumer confidence.
U.S. natural gas is in for another wild year as the insularity that once shielded North American energy consumers from overseas turmoil disintegrates.
Benchmark American gas futures climbed almost 45% in 2021 for the strongest annual performance in half a decade after a deadly freeze that crippled output was followed by summer heatwaves that lifted demand and hindered efforts to stow away supplies for winter.
Bulgaria's energy regulator said on Saturday it has approved a 30.4% increase of the wholesale natural gas price for this month, following a request by Bulgargaz, the Balkan country's main gas provider and public supplier.
These news are what you would call 'Bullish' but we stick to the chart! Price has had such fluctuations before and history is our guide to what might happen next.
In the meantime, Europe Plans to Say Nuclear Power and Natural Gas Are Green Investments (funny) but Spain objects for a variety of reasons
(It makes no sense and it sends the wrong signals for the energy transition of the whole of the EU).
There is off course Russia, Qatar, USA and many new players in this game (especially in the Eastern Mediterranean basin). More supply. more pipelines more funds ready to invest in this? The answer is Yes, to all.
The Nord Stream 2 Russia-to-Germany pipeline could offer plentiful natural gas. But tensions with Vladimir Putin are keeping it out of reach.
And how about China?
Russia’s giant state-owned energy company, is slated to finalize an agreement in 2022 for a second huge natural gas pipeline running from Siberia to China, marking yet another stage in what energy analysts and Western diplomats say is a fast-evolving gas pivot to Asia by Moscow.
They see the pivot as a geopolitical project and one that could mean trouble for Europe.
To cut the long story short: We are going short under the resistance level and obey to our chart!
One Love,
the FXPROFESSOR
U.S. natural gas is in for another wild year as the insularity that once shielded North American energy consumers from overseas turmoil disintegrates.
Benchmark American gas futures climbed almost 45% in 2021 for the strongest annual performance in half a decade after a deadly freeze that crippled output was followed by summer heatwaves that lifted demand and hindered efforts to stow away supplies for winter.
Bulgaria's energy regulator said on Saturday it has approved a 30.4% increase of the wholesale natural gas price for this month, following a request by Bulgargaz, the Balkan country's main gas provider and public supplier.
These news are what you would call 'Bullish' but we stick to the chart! Price has had such fluctuations before and history is our guide to what might happen next.
In the meantime, Europe Plans to Say Nuclear Power and Natural Gas Are Green Investments (funny) but Spain objects for a variety of reasons
(It makes no sense and it sends the wrong signals for the energy transition of the whole of the EU).
There is off course Russia, Qatar, USA and many new players in this game (especially in the Eastern Mediterranean basin). More supply. more pipelines more funds ready to invest in this? The answer is Yes, to all.
The Nord Stream 2 Russia-to-Germany pipeline could offer plentiful natural gas. But tensions with Vladimir Putin are keeping it out of reach.
And how about China?
Russia’s giant state-owned energy company, is slated to finalize an agreement in 2022 for a second huge natural gas pipeline running from Siberia to China, marking yet another stage in what energy analysts and Western diplomats say is a fast-evolving gas pivot to Asia by Moscow.
They see the pivot as a geopolitical project and one that could mean trouble for Europe.
To cut the long story short: We are going short under the resistance level and obey to our chart!
One Love,
the FXPROFESSOR
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