The hedge funds appear to have given up on the natural gas market just as prices have set a post-winter seasonal low.
Friday's Commitment of Trader's report showed the funds long just 64,001 contracts, down 5,813 from the previous week.
This is the lowest speculative long position held by the funds since May 2012.
The small fund long position in the natural gas market is actually a contrarian bullish indicator.
No comments:
Post a Comment