all the best mister. I will probably archive NG chart till next winter. perhaps I might look at the chart during the weekly Thursday inventory news announcement.
The Natural Gas Rig count has gone down (bullish), but the current warm weather (HDD data) has been quite bearish.
I don't buy into that with the new production reality in North America. At all. Rolled, consolidated front month data: Isolated contract (in this case Jan 2020):
Interestingly just now NG went down about 100 ticks (ie during mid Asian session) due to whatever reason (cannot be winter suddenly very warm?). wonder who are those traders. I doubt they are Americans as they are still sleeping. Price seems to be reversing to go up?
Yeah, I saw that. No, big energy desks in Houston for example will have overnight staffing. And they have bespoke meteorologists on retainer so my guess is that a new weather forecast development is in play here.
Monthly Continuous Consolidated (Rolled): Weekly Continuous Consolidated (Rolled): Daily Continuous Consolidated (Rolled):
past 2 weeks, NG range from 2.55 to 2.7. for years, 2.6 is its comfort zone. Winter is over? Perhaps time to archive my NG chart till next winter. Perhaps I will take a peek during inventory announcement.