NATURALGAS Update - 30M Trading Idea ( Long Trade 310 PIP )
Pair of Name :
NATURALGAS
( NATURAL / GAS )
!Update!
[ Time Frame : 30m
[ Direction : Long
[ Type : Swing 10Year low to High
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Description
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Natural Gas (XNG/USD) is having a field day with a firm rally which is holding on to over 10% of gains into the US opening bell. One of the major Shale drillers, Chesapeake, is planning to cut its Natural Gas production already in 2024. The recent crash in Gas prices makes its Gas mining operations nearly unprofitable, and forces the company to cut its output, which means the global supply side will become tighter.
The US Dollar (USD) is turning red, unable to hold on to its European gains ahead of the US opening bell and US Fed FOMC Minutes. The turn comes with a Wall Street Journal article that points to move in SOFR (Secured Overnight Financing Rate Data) which looks to be tilted to a rate hike in the coming three months. Quite a surprise of course, while meanwhile mortgage applications are sinking by 10% against last week, which could point to a decline in the housing market activities.
Natural Gas is trading at $1.84 per MMBtu at the time of writing
————————
NATURALGAS
( NATURAL / GAS ) !Update!
[ Time Frame : 30m
[ Direction : Long
[ Type : Swing 10Year low to High
————————
Description
-------**--
Natural Gas (XNG/USD) is having a field day with a firm rally which is holding on to over 10% of gains into the US opening bell. One of the major Shale drillers, Chesapeake, is planning to cut its Natural Gas production already in 2024. The recent crash in Gas prices makes its Gas mining operations nearly unprofitable, and forces the company to cut its output, which means the global supply side will become tighter.
The US Dollar (USD) is turning red, unable to hold on to its European gains ahead of the US opening bell and US Fed FOMC Minutes. The turn comes with a Wall Street Journal article that points to move in SOFR (Secured Overnight Financing Rate Data) which looks to be tilted to a rate hike in the coming three months. Quite a surprise of course, while meanwhile mortgage applications are sinking by 10% against last week, which could point to a decline in the housing market activities.
Natural Gas is trading at $1.84 per MMBtu at the time of writing
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Comment:
NATURALGAS - 2hrs Trading Idea ( Long Trade 310 PIP )
Comment:
NATURALGAS Update - 2hrs Trading Idea ( Long Trade 310 PIP )
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