What ur missing is the contango chart and contract roll. May ng was 1.81 when finviz rolled the chart to June Thursday night June was 1.95, a sizable .14 contango. June is bleeding down toward the may price 1.81 that is a 7.7% difference between may and June multiply that by 3 and you get a 23-24% drop in ugaz vs gain in dgaz and NG will still be 1.81 back where it started. Right now ng is 1.857 it may or may not go all the way down and close the contango gap, but it is being tested. Ng bottomed at 1.51 early April and has been making higher highs and higher lows forming an upward channel. ng is in a reversal when ng frt month closes above 2.02 most will see the reversal some may not.
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