Lower Longer: Major Gas Traders Increase Conviction
February 10, 2020
In trading lingo, “conviction” equates to a firmly held belief of opinion. Volume is typically an important indicator as it confirms trend directions. When it comes to natural gas trading, major traders of the three main futures/options contracts have held a bearish view for several weeks. They are also increasing conviction in these positions. The total volume of natural gas positions has been rising steadily since winter began and now sits at almost 6,000 BCF. September 2019 was the last time the total reached 6,000 BCF.