First, important we see the weather system move Se across -- the Ohio River, it has. Now will this be assisted by the winds of winter to drive east into Philly, NEw York and Wash. Looks possible.
Although staring at $11.20, the pit traderswill move spot on NG here, I think $11.44 -$11.60, just 1% to 2% on HNU appears doable.
This will not last, why last week I took an exit, the jet stream disappeared, the hot mexico air was driving north, that was the trade. her eis the bounce about to complete.
The winds of change will force through demand which must be sent into system b/c if this system hits the NE, you are back to $12.50 -$13.00 real quick.
No long term forecast are truly correct this winter. For certain NG does not move later on the weather, it moves in price beforehand then exhausts.
I am not stating at all $12.50 will occur, just it can. More convinced a run to coveroff the potential cold in lower demographic regions may first give a small boost here.
The spot is moving soon and if system is full, price would descend and D trend continue. If so, do not hold U in hope as tragic loss of capital occurs. Just get out.
GLTA Cheers manxcan........................... HNU @ $11.18 as I post.