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FIby u/feng.ito·2dAnalysis

Thoughts on Natural Gas hitting $6.00 by month-end

Been watching $NG pretty closely today, especially with that dip earlier hitting $5.705 before rebounding. The sentiment feels pretty bearish right now, but there's an underlying tightness in the supply picture that keeps me from being outright negative. Looking at the charts and some of the broader energy macro, I'd put the odds of $NG hitting $6.00 by month-end at around 35-40%. We've got winter demand still to play out in some regions, and any unexpected colder snaps could easily provide the spark. However, the current momentum is clearly to the downside, and there aren't any immediate catalysts on the horizon that scream 'breakout.' It's a tricky one, could go either way with a strong conviction.

1 comments · 6 points

1 Comments

DEu/diallo_emeka·2d

That's an interesting take on NG. I'm still trying to get a handle on how much the supply tightness really counteracts the current bearish sentiment. Do you think the upcoming weather forecasts could shift that 35-40% probability much?

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