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Natural Gas Trading: Why We Are Starting To Get Bullish

April 17, 2019  

In the previous article (dated April 8), we mentioned three reasons why we were still bearish on natural gas. Now, we would like to revisit those arguments and explain why we are now starting to buy summer contracts.

Technicals

Here's a quote from our previous article:

On April 4, natural gas prompt month contract has broken below an ascending channel and an ascending wedge near 2.660 mark. It was a bearish move, which indicated that natural gas price could be heading towards 2.600 per MMbtu. Furthermore, there has been an inverse cup and handle pattern in place since at least March 28, calling for even lower prices. If all of these technical patterns perform according to the textbook, one can expect natural gas price to head towards 2.6002.580, and even 2.540.

May Contract Technical Chart and Table (April 4, 05:50 EDT)

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