A record warm summer is over. Aircons all over have ran at full speed. Even up in Viking-land.
How has that demand affected prices of Natgas? Well, so-so. We have dropped and there has been build in inventories most of the weeks. There is still some overproduction relative to season. And as we know, there is a season for everything.
I thought for a while that the...
We can open BUY if:
- The price will will make a fake breakout of lower border of the downward channel.
- Daily candle will close above border.
Potential profit will be in 3...5 times bigger than risk.
LONG NATURAL GAS GOING INTO US WINTER SEASON WITH STOP LOSS. TAKING PROFITS ON 50% UPSWING. CURRENTLY NEAR LONG TERM PRICE SUPPORT. SHOULD TAKE PROFITS AT ABOUT 3$.51 AS THIS WILL JUST FALL BELOW LONG TERM RESISTANCE
The increase in US natural gas reserves over the week was less than expected. Will the NATGAS quotations grow?Further growth of quotations is possible in case of increased demand in the US and the massive closure of short positions.