Natural Gas (Spot)Largo
NATGAS - Perfect double bottom - Price in Rising Channel.
On the daily chart, NATGAS has formed a perfect double bottom, it's above the Daily 20, 50 and 100 EMAs. We are now contending with the 200ema.
Price on the 1 hour is in a rising channel.
Daily RSI and 1 Hour RSI above the 50 line, which is a bullish turning signal.
Seasonality and reduce production is on the bulls side.
Production hovering at 99.8bcf per day.
October contract rolls over to November soon.
La Nina is 80% chance for 2024/ 2025 winter, which should bring a stronger winter compared to the last 4 years.
Price on the 1 hour is in a rising channel.
Daily RSI and 1 Hour RSI above the 50 line, which is a bullish turning signal.
Seasonality and reduce production is on the bulls side.
Production hovering at 99.8bcf per day.
October contract rolls over to November soon.
La Nina is 80% chance for 2024/ 2025 winter, which should bring a stronger winter compared to the last 4 years.
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