Περιμένοντας το θήραμα
September 14, 2018
Περιμένοντας καρτερικά…..
September 17, 2018

Nymex Natural Gas had a volatile week. Friday market closed at $2.77, 0,34% lower than previous one. Price faced much speculation in the beginning of the week, while Florence’s potential path was being monitored closely by the traders, yet it came clear, on Sunday even, that there is no major threat for production sites. However, distribution networks will have to be monitored for another week. Two units at Brunswick nuclear plant are shut down and U.S department of Energy is reporting that 40.000 utility workers are in place to support the power restoration effort. Thursday’s natural gas storage report had a negative impact on price as another high build in underground stocks was confirmed at 69 Bcf. We remain inside this $2,60 – $3,00 range bound price for the last few months and if price doesn’t pick up while we face this active tropical season, then a very bearish sentiment will look inevitable for next month’s contract as demand will remain moderate. We won’t buy this market for the longer period, not unless we finally see a break well above the $3,10. Trading the short term is what we do for the last couple of years, looking for a little bit of leverage, with affinity for selling the rallies. Dollar Index and hurricane forecasts are to be monitored closely, trading volumes, RSI, 4hour and daily MACD indicating entry innings.