Natural Gas got pummeled to start the week but it wasn't alone, oil saw a selloff as well.
The Nat gas chart is looking extremely bearish and to me it looks like it wants new 52 week lows.
Many people have piled in Nat gas during this middle eastern conflict without understanding the supply demand aspects of the market.
The large divergence between oil & natural gas should be screaming at you.
Nat gas remains below all key daily moving averages while oil remains above.
Clearly one is bullish and one is bearish.
The Nat gas chart is looking extremely bearish and to me it looks like it wants new 52 week lows.
Many people have piled in Nat gas during this middle eastern conflict without understanding the supply demand aspects of the market.
The large divergence between oil & natural gas should be screaming at you.
Nat gas remains below all key daily moving averages while oil remains above.
Clearly one is bullish and one is bearish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.