Natural Gas triggered a buy yesterday. I have entered first level entries and looking at price action to confirm more entries. Gains were limited however as as U.S. weather forecasts signaled warmer weather in the weeks ahead. If you look at the data, the heating season from November through March is the peak demand period for U.S. gas consumption. However, a warmer than normal winter due to the El Niño weather pattern has limited the amount of heating days and reduced demand for the fuel.
If you google about natural gas you would see an article about Natural Gas price could plunge below USD1.
Do you believe it? It can turn out to be true and vice versa. My advice is that when it comes to this situation, trust the technical better. If I had believed the news coming out from a daily basis about Crude Oil, I would not have bought it and waited and waited for price to go below USD20 per barrel as per news. It is almost USD38 per barrel now from a low of USD26. As for the Natural Gas, I maybe wrong to buy now but since technical information indicated a buy, I’ll buy and I will use the same information to exit.