Good day All.
As much as I want to believe that fundamentals will drive the price up...currently I think we are in a down trend. 1.70 is very strong support that has been tested a couple of times. But if it breaks we will test the lows again.
Rig count is down. Storage injections are down. Bankruptcies are up.
But we are still above avg for the past 5 years and demand is down.
I have no open position at the moment and will sit on the side line till we get a clear direction.
GLT!!
As much as I want to believe that fundamentals will drive the price up...currently I think we are in a down trend. 1.70 is very strong support that has been tested a couple of times. But if it breaks we will test the lows again.
Rig count is down. Storage injections are down. Bankruptcies are up.
But we are still above avg for the past 5 years and demand is down.
I have no open position at the moment and will sit on the side line till we get a clear direction.
GLT!!