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August 2, 2018
Αγοράζοντας το momentum!!
August 6, 2018

Nymex Natural Gas market had a volatile week going back and forth closing only 0.80% higher than the week before at $2.86. Thursday’s eia storage report confirmed a 35 Bcf build which is somehow low for this time of season and had a positive effect on the price. Summer is still on for the Lower 48 and temperatures will remain high to maintain enough consumption for electricity generation and cooling. We are selling these rallies again and again on first sign of exhaustion candles, in this range bound we are still in. We don’t believe buying the longer term is appropriate, unless we finally, see anything above $3.10. The longer term sentiment remains to be confirmed late in August, if the market can’t reach and maintain a $3.10 price on smaller underground stock volumes, then a strong bearish sentiment will drive price even lower. Stronger Dollar against major currencies is to be monitored closely. RSI already looking overbought, 4hour and 15min MACD will show us the right moment to come in.