@rblwhite Yes, I think he’s referring to Aug26 futures, as he’s calling for roughly a 15% drop to $2.30–2.40. The hedge fund vs retail positioning is interesting. If $2.75 is the key dealer pin, could a bearish EIA report or weather run trigger a quick move toward $2.40 no ?
Natural gas will likely fall to $2.3 - $2.4 range over the next few days. Retail traders are still majority long on the tape and hedge fund & producer positioning still net short from the latest CFTC COT report. #ung#natgas#lng#boil#kold#usdrub#wti#oil