aarc

Has Natural Gas Hit Bottom?

Unless natural gas traders and/or investors use this most recent surge to the upside in order to reach $6.28 then the "natural" direction for natural gas "range bounding" between $3 and $5 = down.

That is the just the normal price flow action over time. Either price "greed" will prompt reactive action(s) on the part of the product suppliers to artificially or naturally imlement projects to increase demand and alter the fundamental equation or the fundamentals will twarp speculative efforts of those market participants to buy low and sell at a much higher price than fundamentals can support.

Natural gas need to reach the vicinity of $6.28 in about 15 weeks including the last 3 weeks in order for it to attract enough attention. Minimum rally needed is $5.45 target assuming natgas goes into a few weeks of consolidation after the last 3 weeks of rally. Upper range is $7.63

Let's take it one step at a time this time around.

Nobody knows what will happen in the immediate future under this recessionary environment even if we know what the long-term future holds based on past experience.