Everyone is clamoring about how warm the US is, and we gots so much NG. But Feb NG prices seem low compared to Jan. Spike it north when everyone gets a winter blast and freaks out and fires up the stoves.
I will give NG few more days to perform. after that, I will remove NG chart from my active workspace and move it to archive folder.
*spits beverage all over maxinger in surprise* K, you don't want a 900 tick range over 3 calendar days, that is your bag man. I say it is worth a look.
right. HO (and also RBOB ) day range could be big. But its trendiness is rather bad. It is not that great for day trading actually .
Yer out of yer head. HO and RB are the greatest-ranging instruments in the CME future basket. Think SIZE and price action. And once you figure that out? You'll retire rich.
Be very wary in that space. Those two instruments will fuck you up seven ways to Sunday! Enjoy it, it is great price action!
As we see natural gas prices trading just above 2.50 per one million British Thermal Units (MMbtu), basis the Jan. NYMEX futures contract, it’s good to keep in perspective that the U.S. has been the largest producer of natural gas in the world since 2006 and in 2018 it achieved new record highs in production. Indeed, consumption has also increased, but the U.S. is currently a net exporter and holds the fifth highest proven reserves in the world. So, it’s not surprising that these prices are close to two-year lows. In fact, with the exception of a few brief periods during ’02, ’12 and ’16, natural gas at ±$2.50 is trading near 20-year lows. While climate models will change and natural gas prices will react to predictions of colder or warmer weather, seasonal patterns point to still lower prices into mid-February.