Oversold on multiple time frames (daily, weekly). Bullish MACD divergence, waiting on a follow through. Two daily Hammer candles indicate dip buying. Gaps at 4.398, 6.416.
On the fundamentals side, Freeport LNG has started the re-opening process. I expect a sharp rise in Natural Gas price as it gets closer to fully operational as there's big discrepancy between spot prices in the US and the EU/Asia. Other US export terminals are planned for later this year (Alaska, etc..).
Cold weather in most of the US should increase storage withdraw, though it remains unclear if cold front will persist deeper into February.
See also $HNU, $BOIL, $UNG.
On the fundamentals side, Freeport LNG has started the re-opening process. I expect a sharp rise in Natural Gas price as it gets closer to fully operational as there's big discrepancy between spot prices in the US and the EU/Asia. Other US export terminals are planned for later this year (Alaska, etc..).
Cold weather in most of the US should increase storage withdraw, though it remains unclear if cold front will persist deeper into February.
See also $HNU, $BOIL, $UNG.
