Since my last analysis, I've found that Natural Gas Futures look ready to consolidate in an upper range now. Amid the expected impact of supply and demand, the equation is about to tilt from decreasing demand during winter to growing demand with the above-average temperatures covering most of the country through mid-May. No doubt that the record high domestic production levels have overshadowed the fact that gas stocks are well below their seasonal averages for this time of year. Such scenario during mid May to last week of June always results in growing volatility.
I expect the Natural Gas futures to move in the following trading zones during the week of May 13th, 2018.
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