Where Are Prices Headed Next? With colder-than-expected forecasts extending into early March and storage deficits widening, natural gas prices are likely to remain elevated in the near term. Bullish traders are watching for a test of the $4.442 resistance level, while any break below $4.020 could shift momentum. Unless production remains stable and LNG exports ease, further upside pressure remains in play.
There was a huge spike up around 2 hrs ago, up nearly 4% but then it quickly sold off.... Should be interesting to see the numbers tomorrow when released. Could easily move ng 5% either direction
Really? I thought it had to do with artic air mass coming down from Canada? If that's the case then it's even more of an interesting trade... And speaking of spiking natural gas prices. Wouldn't Trump now come in and try curbing any rise in commodities since he is now screaming how inflation is dropping the most in 4 yrs?? He wouldn't want sticky inflation to get too extreme or even have the possibility of rate hikes instead of cuts..
My Feb 22 UNG calls went up 30X in 3 days from $.03 to $0.90. Of course UNG went up 22% in that time. Northeast is pretty cold but here in northern CA it will be in the high 60s next week. It could hit 80 in the Santa Clarita Valley (north of LA).
I sold them at $0.84 and I bought the March 23 calls. I have a hunch it goes higher from here. Trump is trying to sell LNG to countries that need it and that probably pressures the price. I started buying the Feb 22 calls when it was $0.28 so I was down about 95% at one point. I had 18 contracts right before I sold them.
Been trading long term system since 1991, it based on past 9 years highs and lows, top/bottom 25% are in entry zones, based on volume and patterns. I am often too early and why I hedge entries. Trade either works out first 6 days or exit. "resistance and support" happens past 9 year extremes. Don't use fundamentals, once in trend, sometimes many rollovers. Once there is 10k profit, take profit on 10% of position in NG. System does add on deep retracements. I might stay in years until reaches target or stopped out at breakeven, does Not move original stops unless next contract has change in open pricing. Trailing stops long term overall cuts profits. 2008 been best trade selling crude 145.25 and reversing at 35.00, had 12 add-ons. System does many many many trades a year as it follows almost all futures. I love scalping big markets but long term is 80% of my net.