Replies to post #11211 on Velocityshares 3X Inverse Natural Gas Etn (DGAZ)

[Badfoot]

YW.

[surehands]

https://www.fxempire.com/forecasts/article/natural-gas-fundamental-forecast-march-1-2017-392363

Forecast
With the weather in a holding pattern over the short-run, the direction of the natural gas market over the near-term is likely to be dictated by technical factors. Buyers may try to take advantage of oversold conditions and the lack of fresh sellers to drive this market higher into an area that could attract new short-sellers.
Based on the strong close at $2.774, buyers are likely to go after the top of the short-term range at $2.813 today. Trader reaction to this price will tell us whether the market is strengthening or if sellers are returning.
Looking ahead to this week’s storage data report due on March 2, the EIA is expected to report a draw of about 5 billion cubic feet in the week-ended February 24.
Over the short-term, we could see a short-covering rally due to the lack of selling pressure. Longer-term, we could see even lower prices if demand for natural gas doesn’t begin to pick up.