Saturday, December 01, 2018 3:07:47 PM
NG price is neutral but it is balancing precariously between:
1. low inventory coupled with fear of continuing cold weather
and
2. warming weather forecast
There are other factors, but those are the biggest. The weather forecast can turn in an instant. Should another arctic blast show up in the forecast NG would head well above $5. Should a significant stretch of mild weather be indicated, NG could sag well below $4. I've read that recently a lot of long positions have been taken in NG. If there is a long squeeze that could exacerbate NG's decline.
I have taken a sizable position in DGAZ avg 50.49. That shows what I think will happen.
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