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Sunday, October 27, 2019 11:32:16 PM
NG chart has a huge gap up from contango now it will have a gap up to the 200ma.
Will NG continue higher without support or will it repeat 2016 oct/nov roll with a gap n trap then start of selloff.
Earlier today when Investing.c rolled their chart there were a lot of posters thinking NG spiked when it was contract roll. I would say a high percent of people thought this and may be part of the reason for tonights gap up. Same thing happened in 2016. Same thing will happen every month there is contango. Two things ng has going for it right now
Its relatively low priced at $2.5 for this time of the year
There is a large short position
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