Re: Nat Gas 7-10... ROCKING/STR
Hi STR,
Well, clearly an interesting afternoon in April Ng !!!
Maybe I'm wrong on this but I thought the "buy signal would be" 2.335 the Thurs. 3/8 high.
- Fri. and Mon. being inside days.
In your prior post you mention 2.29 which was yesterday's high (an inside day), so I was looking at going long at 2.335 which was hit (barely today) at the top of the afternoon run up.
It does look like the Price level of about 2.325 ish is going to hold - at least for the moment.
I did not go long since price started to back off a little and I chose to watch.
I may pick 2.34 to go long if this run up has legs. Conversely, this could just be a "technical bounce" and the market will fall off. In my view 2.335 vs 2.34 isn't enough to worry about !!
Please comment on the 2.29 number.
Substantial buying occurred for what ever reason. My view of the early storage estimates etc. are still bearish. Storage operators cycling product should be bearish as well unless there is a game they can play to suck in utilities and power gen. before they dump the gas they still need to cycle ??
Good Luck,
Thanks, Lee
Thanks, Lee