Thursday, October 26, 2017 9:48:21 PM
I'm reading a lot of data that thinks dependent on WX we could be headed lower with NG to 2.40 or lower before moving up late December for a 50/70% move upward then back down.
Reasons:
1-Fracking technology easy to mind NG.
2-Over abundance of NG in ground.
3-Warm winter Wx patterns.
4-US wants to compete globally with LNG requires cost effective NG pricing.
They are referencing a winter 2012/2015 type of NG pricing action.
2015 Chart:
2012 Chart:
More interesting Data:
Every time NG gets above 3.0 they sell the heck out of it. Due to weak demand and over abundance.
Today EIA Report Data:
DISCLAIMER: MY POSTS ARE STRICTLY MY OPINION, AND ANY OPINION
PROVIDED DOES NOT CONSTITUTE A BUY,SELL, OR HOLD RECOMMENDATION OR DECISION.
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