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Christopher Lewis
Natural Gas

Natural gas markets have fallen hard during the trading session on Tuesday, as we have broken through the $3.10 level. At this point, the market looks as if it is ready to go down towards the $3.00 level, perhaps even down towards the $2.80 level. The 50 day EMA sits right around in the same area, so it does make quite a bit of sense that we would see buyers in that area. We would fill the gap, and then continue the upward momentum due to the colder temperatures during this time of year, meaning that the market will almost certainly go higher. However, gaps get filled so let us not forget that.

NATGAS Video 04.11.20

We are past a lot of the concerns when it comes to hurricanes now, but we still have cold weather. We are trading the January contract, and needless to say, January is a very cold months, and demand goes much higher. However, sometime after New Year’s Day we will start to focus on spring, and then we will start selling again. Between now and then, I like the idea of buying dips going forward, because quite frankly this is a market that will clearly have a lot of volatility, but it certainly has a lot of upward momentum and therefore I have no interest in trying to get cute in shorting this market.

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Although we have more than enough natural gas in general, the reality is this time a year does have a cyclicality to it that is hard to fight. At this point, I continue to think we go higher over the longer term.

For a look at all of today’s economic events, check out our economic calendar.

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