Replies to post #20707 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[Marketwise]

One or two more reports like this one and working gas in storage will actually be below and no longer within the five-year historical range. If that happens NG should trade nicely bullish from current levels possibly even through recent resistance...Shall see, I guess...These oncoming reports in August will be meaningful, imo.

[researcher59]

EIA reports a build of 35 Bcf versus expectations for a build of 45 Bcf and the 5 year average of 43 Bcf.

NG rises from $2.75 to $2.79/mcf when the news hits.

Current storage is 2,308 Bcf which is 565 Bcf below the five-year average of 2,873 Bcf.