Natural gas futures (NYSEARCA:UNG
) for January settled +3.8% to $2.328/MMBtu, as new forecasts for chilly temperatures to close out the month allayed fears among traders and analysts of an impending drop below $2.
Natural Gas: Lower Production And Higher Heating Demand Push Market Back Into Deficit
Seeking Alpha - Article.8h ago
Cooler weather outlook lifts natural gas prices
Seeking Alpha - Article.11h ago
UNG: Natural Gas Prices Oversold Following Warm Weather Report
Seeking Alpha - Article.22h ago
Upside Potential To Natural Gas Prices Remain Limited With Mild Weather And Strong Production Weighing
Seeking Alpha - Article.1d ago
Weather model forecasts will then aid either the deficit or the surplus. If the weather is bullish, then the deficit increases or the surplus narrows. If the weather is bearish, then the deficit shrinks or the surplus increases.
So, the average price of natural gas will be largely dependent on production growth, and given that we hit a peak of ~97 Bcf/d just a few weeks ago, we can't count on production to fall sustainably in 2020 just yet.
As for the short-term outlook, the sustained bullish weather scenario remains elusive for now. The good news is that ECMWF-EPS will publish its latest long-range outlook today, so we will be watching that closely. If the transition period into January is bullish, then we will be going long UGAZ.
VelocityShares 3x Long Natural I see good support at or around 8.66 now I'll just keey riding the waves.
VelocityShares 3x Long Natural 1hr chart january 2018
who was trading ugaz last january?
VelocityShares 3x Long Natural this looks like such a dangerous ticker, get bad vibes from here.
VelocityShares 3x Long Natural what ya think... if it breaks 2.32 we might visit 2.2's again?
VelocityShares 3x Long Natural Gas ETN she gonna go to 10, then 11.15 then 12.45 and then reverse to 10 then huge gap to 17 for a big winner
ugaz spikes in January from what I see on the chart.
she's going to take your money just like they all do
Looking for it
Sure, She will!!!!
VelocityShares 3x Long Natural nice day for UGAZ
, hope tomorrow gives us another dip and uptrend to scalp