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Movements in the natural gas futures contract since the breakdown below $3 indicate a sharp reversal could start soon after the inventory announcement tomorrow.
The commodity stayed under selling pressure amid messy weather announcements and finally hit a new low at $2.689 in today’s trading session. Last time, the natural gas futures hit this low on Apr. 26, 2021.
I believe today’s trading session could be a lone witness of this low as the natural gas futures look ready to bounce amid a growing possible February freeze shorty on Wednesday.
The weather data was colder trending for next week as frigid Canadian air impacts much of the northern and central US with frosty lows of the -20s to 20s.
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