Velocityshares 3X Inverse Natural Gas Etn (DGAZ)

[surehands]

COT DATA:


Summary:

Open Interest down 146k contracts
Note Commercial Longs went down 154K contracts
Commercials are still short close to ~ 1 Mil contracts
Speculators are long ~ 1 Mil contracts

Not much has changed since June folks, shorts are still in control.








WX CDD/HDD DATA:

Summary:

Looks like warm weather for next 2 weeks creating a surge in CDD requirements. Wonder if its enough to cause a short squeeze eh?





Charts TA:

5 HR: Oversold could go down a bit more Monday to 2.81/2.83





Daily: Oversold could go down a tad more 2.81/2.83





Weekly: Not oversold, could go down to low 2.70/2.65 before entering oversold area!




My opinion:

Theory 1:
We go down to 2.80/2.83 then pop to 2.91/2.93 Cooling off short term indicators. Then back down we go to 2.65/2.75 area.

Theory 2: Warm weather CDD requirements initiates a short squeeze taking NG to 2.97/3.01

MHO

GLTA