Why are you surprised by the Oil sell off?
May 25, 2018
Ήταν στραβό το κλήμα (ΦΦ)…το φαγε και ο γάιδαρος
May 29, 2018

NYMEX Natural Gas market had a bullish week closing 3% higher than the previous one at $2.96. Buying volumes, however, remained flat after the break we saw on Tuesday, despite the break, we also saw, in the daily exchange volumes both in futures and options of the Henry Hub. Of course we can’t go against the market nor the short term sentiment of this uptrend channel we are looking at, but major longer term resistance area, close to $3.00, will offer us fresh selling opportunities. Short term buying, with the appropriate stops, is also recommended at this point. As long as we monitor this market on 1hour charts, we can play both moves for the coming weeks. Stronger Dollar and China’s appetite for US Natural Gas imports are driving the market higher, as well as moderate demand on higher temperatures in the US and Canada. Longer term sentiment, however, will be build in the coming weeks as US underground stocks will eventually rise. RSI, traded volumes and 4hour MACD are helpful.