Velocityshares 3X Inverse Natural Gas Etn (DGAZ)

[Swing Party]

NG has been consolidating since Oct 3.
Cold weather forecast could send NG up hard.
Cold weather showed up in early November 2018 and 2017. If it doesn't show up until late November (like 2016) it could get ugly.
Other factors that are currently affecting price action are:
1. Technical analysis which pretty uniformly shows NG in oversold territory just above major support.
2. Production oversupply which shows no sign of abating.

A couple of bearish insignificant factors that are nonetheless interesting are the
worldwide glut of LNG as reported by the Hellenic Shipping News, and the recent decrease of NG power burn in Texas due to increased renewable energy supply.

Overall I am still bearish NG