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D707
Aug 7, 2019 5:15 AM

Commercials are heavy long NG 

Henry Hub Natural Gas FuturesNYMEX

Description

I was wrong on my last idea, NG went on and dropped lower. Trend remains down until we see a close above 2.33 then 2.48. Commercials are heavy long at levels not seen since 2016. Seasonality is bullish from now to Nov-Dec. we just need to see a sustainable rally to bolster the idea of a bottom for the year.

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Comment

When you see such heavy commercials (insiders) positioning, you get ready to ride along with them
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