Natural gas (USA) – local supply reduction supports prices
"Production cuts will support the natural gas rally"
U.S. gas production fell above forecast due to lower expectations for price increases and the start of equipment maintenance, which also reduces gas supply.
TAKE PROFIT
At the end of February, gas prices dropped to levels since the pandemic and entered a flat correction. After a 2-month consolidation, prices broke through the resistance and went up. We believe that gas prices will continue their upward movement with a target of $2.5 (+13.5% of the current price of $2.2).
STOP LOSS
Do not forget about risk management. Natural gas futures are one of the most volatile instruments and are at multi-year lows, which increases volatility. If the price is fixed below $ 2.1, then the forecast for gas growth is canceled. A stop order can be placed at $2.13 (-3.1% of the current price of $2.2).
Disclamer. The analytics presented here are designed for people who have at least a basic understanding of the Russian financial market. If you have difficulties with the practical implementation of our recommendations, you can use the services of our specialists with the Portfolio Consultant package at the link: https://eraperemen.info/priobresti/
