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An analysis of the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) says the fund fell 33.8% to $8.87 per share amid high storage and record production. The author has reversed to a bullish view, expecting the market to be oversold and futures to edge higher by early January.
Hedge fund positioning improved over the week.
Ample supply and warm near-term weather keep natural gas prices subdued, while a possible cold snap later in the season could lift them. The view centers on a price rebound from depressed levels rather than a new supply shock.
etftrends.comSeeking AlphaDec 23, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
