Yesterday’s statistics on weekly natural gas reserves were published 50/50 for long or short traders.
Last week’s increase to +46 million British thermal units (BTUs), expectations for this week +52 million BCF and reality +49 milion BCF. So less than ForexFactory.com analysts expected, but more than last week. Therefore, it is up to each analyst how to approach the matter. As can be seen in the market, traders stomped on the spot during yesterday’s session after the release of statistics and did not know where to go. Today is the time for logical and financially strong players for cheaper purchases. Capital Analysis is on the side of bull analysts.
For this reason, we want to recall the long analysis from 22.10.2020, which is still in play. The analysis is currently in a slight open loss, but technically nor fundamentally shows no signs of negation. On the contrary, the current market price provides a more interesting opportunity to board a departing train. Winter is slowly but surely approaching.
Graph source: WebTrader