Am guessing we see at least 3.75 at some point in coming weeks, and that would be a huge gain from here.
This is absurdly oversold.
K Wave, I totally agree with you that natural gas is extremely oversold as of Fri, Feb 3rd. I actually can't believe how far and how fast it has fallen.
Natural gas has already declined 7 consecutive weeks. It's extremely rare for anything to decline for 8 straight weeks. It has happened in the past. I've checked but it's very,very rare. Will natural gas fall for an 8th consecutive week? A bottom has to be in here real soon.
In addition, the current 45 day simple MA is $4.50 and falling. But it will eventually tag the 45 day MA again and I suspect like you natural gas will get back up the $3.75 area. I even think it could go higher than that. This sell off is beyond ridiculous. It's worse than Bitcoin.