Natural gas trading at highest levels since middle of January,Continuation chart touching 200 d MA it has not traded above it since late November.A cold blast of weather ,snow in some cases for Eastern half of Country over next 6-10 period is one of the very short term bullish factors in play. The other A Pipeline Issue on the major system bringing gas from Texas to the Northeast (BBG) and the long term Bullish Factor is the Decrease in shale Oil production, thus less gas production.Speculators in Nat Gas long for the first time in 1 year!! not a contrarian indicator yet .

June Gas above resistance and possible break out

For those interested CL/NG ratio, generic contracts daily chart.

Crude Oil Bid as more US production cuts announced some 660K this morning.Economy taking steps to reopen and hopes that Demand will follow,Less USO issues with front month shenanigans all add up to an impressive rally in oil. Focus on the calendar spreads as the contango starts to evaporate.M/N -162 N/Q -135 today’s highs. With USO out of the front two months or very close to be that Selling pressure of the roll is gone leaving one less factor to stop the run higher,AS long as economy reopens with no glitches the pent up demand could continue to be a bullish factor for oil

CLM 2 minute
CL M/N zero level here we come!
June RBOB trying to break out as well same reasons as above ,dont have to repeat.

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