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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This Post Has 5 Comments

  1. PaulP

    . . . . or more accurately, F.U.G.L.Y. !!!

    1. Gary

      Sure does look like it’s breaking down in terms of gold, Armen.

  2. Armen

    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. Gary

      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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