Feb NG seems too low.

Discussion in 'Commodity Futures' started by Overnight, Dec 2, 2019.

  1. Overnight

    Overnight

    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.
     
  2. maxinger

    maxinger

    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.
     
    bloomberg1 likes this.
  3. Overnight

    Overnight

    If you want a winter fuel to tickle your fancy bits, sneak a peek at HO. ;-)
     
  4. maxinger

    maxinger

    I don't quite like HO. volume has been rather low and the chart tends to be rather spiky.
     
  5. Overnight

    Overnight

    *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.

    HO movement maxinger.JPG
     
    nooby_mcnoob likes this.
  6. maxinger

    maxinger

    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 .
     
  7. Overnight

    Overnight

    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.
     
  8. maxinger

    maxinger

    ha! I have included HO and RB in my active workspace.
     
    BlueWaterSailor and Overnight like this.
  9. Overnight

    Overnight

    Be very wary in that space. Those two instruments will fuck you up seven ways to Sunday! Enjoy it, it is great price action!
     
  10. Cannon_Trading

    Cannon_Trading Sponsor

    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.
     
    #10     Dec 3, 2019