COM - Natural Gas: Facing Strong Resistance But SD Balance Is Mostly Bullish

January, 06 2021 11:46 AM Direxion Auspice Broad Commodity Strategy

This Thursday, we expect the EIA to report 3,327 bcf of working gas in storage for the week ending January 1.
We anticipate to see a draw of 133 bcf, which is 89 bcf larger than a year ago and 32 bcf larger vs. the five-year average.
Over the next 30-day period, total natural gas demand is expected to average 130.0 bcf/d, which is 7.6 bcf/d higher than a year ago.
Next week, natural gas consumption is projected to rise by as much as 13.9 bcf/d y-o-y.
Our latest SD balance forecast (scroll down to see the last chart).

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Company Name:	Direxion Auspice Broad Commodity Strategy
Stock Symbol:	COM
Market:	NYSE