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Bearish Bets Against Natural Gas: A Potential Springboard for Prices?
Is it time to go long natural gas? That’s a question on a lot of traders’ minds lately, with prices (/NGH4) at the lowest since July 2020 following three weeks of losses that saw the commodity drop by about 40% from levels traded in January. The price action has attracted a lot of attention as traders look to call a bottom in the commodity. While enticing, a deep and protracted selloff doesn’t necessarily mean that prices will swing wildly in the opposite direction. There are reasons why prices have fallen so far and so fast. The primary reason is the weather, particularly the above-average temperatures seen ... (full story)