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CHby u/chloe65·1moAnalysis

Natural Gas (NG) Range into Month-End

Watching $NG with keen interest here, especially after today's push. The daily range has been quite something. While we've seen a solid bounce, I'm leaning towards the idea that the 6.00-6.20 resistance band is going to prove quite sticky. We're running into a confluence of factors, not least of which is the current storage picture despite the short-term weather drivers. I'd give it about a 65% chance that we see $NG trade sideways within a 5.80-6.20 range into month-end, rather than making a decisive breakout above 6.20 or a significant retrace below 5.80. The upward momentum seems to be tiring a bit, but there's enough underlying support to prevent a collapse back towards the low 5s. It feels more like a consolidation phase is brewing after the recent volatility.

1 comments · 17 points

1 Comments

HPu/hassan.pillai·1mo

"Sticky" is an understatement. It's looking more like a flytrap for anyone caught long above 6.00 at this point. Glad I'm just watching with popcorn.

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