Natural Gas weekly downtrend opportunity based On 1.00 Lot Calculation:
- US natural gas storage volumes declined less than the market expected for the second consecutive week. The U.S. Energy Information Administration on Thursday, March 11, reported a withdrawal of 52 Bcf from natural gas storage for the week ended March 5. Production increased by 6 Bcf/d according to the report, as South Central freeze-offs lifted and power outages returned after the February storm. Production’s rapid recovery has been the big surprise for the market.
- Weather has proven generally mild during the current week and the outlook for the second half of March does not show much to support a bull case for coming weeks either. According to NatGasWeather for March 11 to March 17, most of the U.S. will be mild to warm.
- The natural gas markets are going to continue to see a lot of pressure due to the fact that we are getting towards a warmer time of year, and as the northern hemisphere heads toward spring.
Natural Gas, March 12, 2021
Current Price: 2.65
|
NATURAL GAS |
Weekly |
|
Trend direction |
|
|
3.04 |
|
|
2.95 |
|
|
2.86 |
|
|
2.43 |
|
|
2.34 |
|
|
2.25 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
NATURAL GAS |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
-3,970.00 |
-2,990.00 |
-2,120.00 |
2,170.00 |
3,090.00 |
3,980.00 |
|
Profit or loss in €** |
-3,331.35 |
-2,509.00 |
-1,778.96 |
1,820.91 |
2,592.91 |
3,339.74 |
|
Profit or loss in £** |
-2,851.11 |
-2,147.31 |
-1,522.51 |
1,558.42 |
2,219.13 |
2,858.29 |
|
Profit or loss in C$** |
-4,982.39 |
-3,752.48 |
-2,660.62 |
2,723.37 |
3,877.98 |
4,994.94 |
* 1.00 lot is equivalent of 10 000 units
** Calculations for exchange rate used as of 10:55 (GMT) 12/03/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail