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TFC Commodity Trading Forum

Nat Gas/ Contracts Overlaid *PIC*

Here is the June Nat Gas chart with the other months overlaid. Note the last 3 months being Nov/Dec and Jan have held up much better from early in the year and continue to outperform the other months. The Dec contract has little open interest historically. But Nov and Jan and especially Jan are very active months. Jan is especially looking good 'relative' to the rest. Meanwhile price is king and June NG (in black) must clear 2.40 on the June contract to mean much of anything. Then it has to hold above 2.40 to suggest a base is being built. Lots of work to do for NG. Also see the RSI 21 still not above the 50 line resistance like it has been for a long long time. That too needs to be cleared. Reminds me of Lucy and the Football cartoon the way so many keep going long this bear market.