ym, the whole dynamic with NG has now shifted. Surprises will be to the upside. imho.
The cyclical bear NG has been in since 2006 is over. Been volatile, few expected this last C wave down, so be it. It is over. NG now in a secular bull, pulsing up.
I tend to think this NG run could go into mid July, continuous has a shot at 3.5 plus. Boil ... we will see, maybe even 40 plus, or maybe I am dreaming. Regardless if it more or less does what it could, there will then be another heck of a Boil buy, Maybe ~ mid Oct. is current thot. It could give back a large proportion of this move. I going to try to trade up during the down drafts, and build a huge position. I think Boil could do 1000 plus. At a minimum it should gravitate back towards 500.
See ST chart.
And the best thing of all, not much drilling going on. They are gonna get behind the 8 ball, that is way the patch works. Then slowly build to next cresendo peak, way down the road. At these NG prices, probably still difficult for the patch to get bankers to loan them money. Probably not even break even yet. Inflation hits them too, on the cost side.
In edit. Perfect weather here now, summer is here. We had our green out about a week ago, is when all the birch and aspen suddenly leaf out. Happens in a matter of a few days. Dry need a rain, to hatch more skeeters.
Tweets
NG cont with Boil overlay, plus ST cycles. Looks like this run could continue into mid July, or longer. Would be nice to see NG peak at 3.5 plus, then maybe correct into that mid Oct. 6 month low. If you go back and look at the last 4 yr cycle low area, Boil did make a lower low, post the NG cont. low, seems a bit doubtful this go around. But we know we should get a good pull back.
A beautiful LT chart, good cycles demo too. The last wave low was dead on with the cycle.
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