NGas has been declining in price since reaching a peak of close to 16 in 2005. Excluding a steep fall between 2008 – 2009 the decline has been gradual and contained lots of adjustments. What we expect from a widely used and produced commodity like Gas. The coming online of more and more of the commodity is what is bringing price down. Giant deposits in the eastern Mediterranean and the northwest offshore of Australia not to mention the shale basin in the US have brought more supply to the market. We enter today’s trade on the short side at or below 2.733 placing take profit exit orders between 2.726 – 2.717 and our stop loss exit order between 2.740 – 2.745.
The Iranian Deal: One week and counting. What is to be done?
Daily Analysis - 04/05/2018