$E-mini Natural Gas Futures(MAY4) (QGmain.US)$ might test bo...
$E-mini Natural Gas Futures(MAY4)(QGmain.US$ might test bottom range of 2.4. If we break 2.4, i foresee us heading back down to all time low at 1.5 and this will be super nasty.
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Crazy over US ETFs especially leveraged ETF. Go big or go home.
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你泥阿嬷 : Don’t think so. Freeport will be loading a partial cargo this weekend. Restart is imminent. That takes at least 15% of NG off the domestic market by March when they fully restart. If there’s going to be a pivot, it’s within this week or next. $ProShares UltraShort Bloomberg Natural Gas (KOLD.US)$ is going to attempt a spike before the selldown begins.
你泥阿嬷 : I see NG recovering to the 4s in the near to medium term. Several pipelines and export facilities coming online in the next few years and given the tight supply HH will eventually normalize to levels above $5.
TinkerB3llOP 你泥阿嬷: Yup agree i dont foresee dropping to 1.5 level that is too drastic. The futures is undecided seems like moving sideway. Are you in BOIL? I feel 5-6 for BOIL is definitely a steal.
TinkerB3llOP TinkerB3llOP: We should be able to reclaim 5 perhaps by EOY
你泥阿嬷 : In BOIL for now. Whether it can go back up to levels in October will be interesting. I see a very bumpy road ahead, but that’s all noise. Europe has declared victory over their “full” storage inventories too early. With a Russian escalation happening in the next two weeks, flows of LNG to Europe will come to a standstill. They are still going through backdoors to get cheap crude but energy supply is really dwindling. Any lower than $2, producers WILL cut production and it will send prices right back up to incentivize production.
TinkerB3llOP 你泥阿嬷: I see, seems like it is trading sideway today not sure where it will go.
TinkerB3llOP TinkerB3llOP: Might test 2.33 should be a bloody day again