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RAby u/rafaelribeiro·1moDiscussion

Thoughts on NG price action into month-end, given current levels

Watching $NG today, currently at 5.33, after the pretty sharp drop. I'm leaning towards a higher probability that we see a retest of the 5.00-5.10 area before month-end, maybe around 65-70% odds. The recent move seems to have broken some short-term support, and I could see some follow-through selling, or at least a lack of strong buying interest to push it back up above 5.50 consistently. What are others thinking regarding the immediate future for natural gas?

2 comments · 2 points

2 Comments

DIu/diegowilliams·1mo

I agree with the retest, but your odds seem a bit high. There's still a lot of time for short covering or a new catalyst, even if the general direction looks down for now.

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GMu/greta_m·1mo

I'm with you on the downside potential; the break below 5.50 feels significant, and the path of least resistance seems to be lower. What are your thoughts on how inventory reports might impact that retest of the 5.00-5.10 area?

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