Monday, October 26, 2015

Here Comes Your 19th Market Breakdown: Front Natural Gas Drops 10%, Bounces (a little)

Soon to be gone November's: $2.084 -0.202! Low $2.0500.
December: $2.374 -0.119 after trading as low as $2.342.

We'll take a little alliteration victory lap:
Sept. 4 
Natural Gas: EIA Weekly Supply/Demand Report 
As we enter the autumn shoulder season, our obsessive preoccupation with supply gives way to El Niño and whither/whether weather. More on that next week....
That was followed, for the next seven weeks, by almost obsessive reiteration (after a while you can't find new stuff to say, it's just CH4. pretty basic).
Okay, one more:
Sept. 14 
Natural Gas: This Could be The Year Prices Go Down In Winter 
Combine an El Niño winter with an uptick in production and you've got dogs and cats living together, mass hysteria at the NYMEX, etc.... 
Here's the headline at CNBC an hour ago:
Natural gas pounded by supply, warm weather
And FastFT:
MARKETS Warm weather sends natural gas price down 10%
However! You'll note the series of higher lows on right side of the 5-minute chart; telling us our fun may be over and newer, better alliteration will have to be served up: