Natgas Reversal likely

Jan 9, 2024

Reversal didnt happen as expected at 245 due to weather change with too much hope. Next level is at 289 but that ride is entirely based on the cold weather forecast tilll 17th and the difference in JAN and FEB contracts has reached almost 40 showing the short term bullishness. So high chances of crashing on getting close to the weekend if weather forecast remains same as Supply is still above 100 and last Feb 2021 cold also failed to move this much.

Jan 16, 2024

Trade closed: target reached

Reached near 242 which is the previous breakout level. Can continue downtrend based on the fundamentals and hugh difference with the feb contract.