Natural Gas

Nice run here higher in Nat gas,the break of the $2 handle never materialized as front month now trading $2.41

lets look at a few graphs:

Lower 48 states production,with a 20 day M.A. in yellow

X/Z calendar spread impressive move higher with above average volume,Early winter expected? If spread went positive maybe I would be inclined to think that a cold start to winter is expected

H/J 2020 also on the move higher with above 5 day average volume,likely a bit of a short squeeze but I will pay more attention if the most recent highs are taken out.

Energy Scorecard today

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