Accumulation zone within a narrow range after a 25% drop. In technical analysis, this often means that major players are "vacuuming up" the supply from panicked retail traders, forming a bottom.
Following a sharp decline in early February, a massive amount of short positions has accumulated in the market. Any hint of frost forces these traders to buy back gas to close their trades. This creates a landslide-like price increase.
This is a unique technical moment. The price of gas has fallen over the last 3 days, while the "quality" of the weather over the last 2 days has become much more "bullish." This divergence between meteorological reality and price always closes in favor of the weather.
Хочешь хороших денег – умей выжидать
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Хочешь хороших денег – умей выжидать
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.