Natural gas started the week with a bounce thanks to a change in forecasted temperature for the U.S. Midwest and Northeast. The weather pattern change was much more significant than the price change in natural gas but it does change the short term outlook once again. Just when it looked like gas was going to test the low side of this two week trading range we get a completely different forecast traders can’t ignore. The storage injections for the past month just haven’t been big enough to narrow the gap and as a result gas continues to be well supported. At some point, maybe another month from now, we may come to the conclusion that there just aren’t enough weeks left in the injection season to expect prices to drop any lower than they already have. For now the window is still open. A price move above $3.00 US/MM would be interpreted as a sign that the window could be closing. (MB)
Your Morning Coffee
Fear is a normal part of life. What you do with that fear and how well you shift fear to excitement determines how well you are able to see the opportunity in every moment.
To act fearless, you need to acknowledge and confront your fear, change the story you are telling yourself about what that fear really means, and choose a path that is focused on opportunity and positive outcomes.