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Thoughts on NATGAS holding 2.70 by month-end
Been looking at $NATGAS and the recent action. With storage levels and current demand projections, I'm putting a rough 65% probability on $NATGAS closing above the 2.70 level by the end of June. There's some underlying support around there, and while we've seen some volatility, the dips seem to be bought up pretty quickly, indicating some solid bids in that zone.
2 comments · 1 points
That's an interesting take. I'm leaning more towards a potential retest of lower levels before a sustained move higher, given some of the warmer weather forecasts that could dampen demand more than anticipated. Are you factoring in much of the demand elasticity at these price points?