Natural gas touched the weekly 200 SMA on Monday. It bounced on Tuesday Should we expect a rally here?
Sure. There's been some price compression the past week or so. That usually precedes a sharp advance. From a seasonal perspective, the market usually rallies into June. It might have something to do with farmers needing fertilizer for their Spring crops and expected hot weather in the summer. We'll see what happens.
I use to only trade E&P stocks and worked as a Driller in my younger days. Just started trading the YM futures and hope to trade NG later on. Have you guys ever checked out the CWEI board on Yahoo? There is a man there named Robry that is usually dead on with the numbers well before the EIA puts them out....The summer demand /volatility comes mostly from air-conditioners (Gas fired plants) and Gulf Storms. Watch the temperature in Chicago and don't forget to follow the rig counts each Friday.
Yes, I've heard from several sources that it is a top notch board. Not anything like the other yahoo boards.