This is quite remarkable: Natural gas prices are almost at a 1 handle.
Today's reason for the big drop was that storage actually increased in North America, this still in March. The red curve is the current year's curve, compared with the average 5 year range in shaded gray. Amazing.
The woeful UNG reacted accordingly, remember the kiss of death post on UNG?
5 year chart:
Contango is now at a huge 5.5% on the two front months contracts.
Contango us UNG's killer.
Indeed the perfect storm for UNG today.
Note: You may receive technical analysis and alerts of these stocks, sent automatically to you, by entering the symbol in the Technical Trend Analysis Tool, (powered by INO).