Monday, February 29, 2016

Natural Gas: How Low Can It Go?

Uncharted territory here, so anything anyone says is just a guess.
Front futures $1.729 down 6.20 cents, Mays $1.830 down 4.30 cents. Daily low $1.69.
From Inside Futures:
Natural Gas Futures--- Natural gas futures in the April contract is sharply lower this Monday morning in New York down 9 points hitting a fresh contract low currently trading at 1.70 as record temperatures across the Midwestern part of the United States is sending prices to new lows. I have been recommending a short position from around the 2.15 level and if you took that trade place your stop loss above the 10 day high which stands at 2.03 as the chart structure will start to improve later this week therefore lowering monetary risk as prices have absolutely crumbled over the last several weeks. Natural gas prices are trading far below their 20 and 100 day moving average telling you that the short-term trend clearly is to the downside, however if you have missed this trade move on as the risk/reward is not in your favor at this time....MORE