Natural Gas Futures… U.G.L.Y.

Natural Gas Futures are down nearly 8% this morning

NFTRH 734 had this to say about Natural Gas, along with a chart that showed critical support that is giving way this morning:

Natural Gas had better hold here or it’s probably cooked. I don’t know that another buy at 5.50 would work out so well. Also, the seasonal is negative now for Gas.

This chart is not marked up but I am sure you can see the short-term support cluster getting impaled. Meanwhile, I remain short the Energy sector pending XLE’s Diamond consolidation.

natural gas futures price

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5 thoughts on “Natural Gas Futures… U.G.L.Y.

  1. Thanks, Gary. Btw, today is the first day (I’m slightly exaggerating) when TLT and SPX went in different directions. Not yet a regime change, but maybe another sign if confirmed?

    1. I am still going to beware the seasonal Golidlocks tout after this pullback hits a certain point. But when SPX does not feel relieved about rising bonds then it will likely be time for a deflationary episode, impulse, scare or whatever you’d want to call it.

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