AI
Monday, October 25, 2021 12:28:48 PM
NatGas contango that existed last week seems to have resolved itself today. Current spot price near equals futures rollover month scheduled to occur in two days. This may run further to the upside, but it will not be contango driven. I will get out of BOIL after the next red 1 hour candle prints.
Live link here -
https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.html#
It appears the powers to be made all the moves today to resolve the contango, rather than over the next 2-3 days. I expect BOIL to plateau now, and soon roll over. Once the first red 1 hour candle prints, I will sell.
Once I get out of BOIL, I will be looking for an entry into KOLD. GLTY
Live link here -
https://www.cmegroup.com/markets/energy/natural-gas/natural-gas.quotes.html#
It appears the powers to be made all the moves today to resolve the contango, rather than over the next 2-3 days. I expect BOIL to plateau now, and soon roll over. Once the first red 1 hour candle prints, I will sell.
Once I get out of BOIL, I will be looking for an entry into KOLD. GLTY
My posts are my opinion. Always trade at your own risk.
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