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Alias Born | 03/04/2006 |
Tuesday, April 28, 2020 1:03:16 AM
Ng strong move today after contango unwound. Stiv posted a chart that shows the upward channel that has been forming since early April. Today net short long ng positions are even at 176k each. This after being record short for months. The pendulum is swinging back the other way. More evidence of the pressure building for a NG Breakout. Crude dropped another $2 to $11. Who's going to be drilling for oil at these prices, less associated gas. Too much ng in storage will never be a problem just hit the sparky button and flare it. Summer just around the corner. A NG close above $2.02 will get things going.
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