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TFC Commodity Trading Forum

Re: March Nat Gas/Coming Back Test the Lows/Lee

All I know is what the chart is saying. Recall it was saying price washed out and was due for a 'snap back'. The chart was correct regardless of the fundamentals and did snap back as it suggested. So now watch the recent low for a 'test'. And then watch for a rally above the recent high which would suggest more on the upside and a base building pattern at a higher level. "IF" price fails the test of recent lows and makes new lows the bear will continue. And it is still a bear. BUT if price has a higher low and runs higher than recent highs it just might be something to pay attention to. I keep hearing of many major corporations discussing switching to LNG. The B.C. Ferries on the West Coast are in full discussion on switching to LNG and the next Ferries being built will be fueled by LNG. So things are beginning to change with such an extreme in spread between NG and Crude products major corporations just can't ignore a local dirt cheap fuel source. And everyone and his dog is a bear on NG. Perhaps price will continue to fall but right now I wouldn't be short as it's just too obvious to be short.