Aug. natural gas:
1. In our Friday, July 11 Williams edge live meeting it was noted that natural gas (then trading at approximately $412) should continue to decline and test $390/$89.
2. Today’s (Monday, July 21) Aug. natural gas continued to decline further and completed the $390/$89 downside target (session low, $383.40, so far).
3. Today’s continued decline and completion of the $390/$89 downside target further helps confirm recent improvements made in natural gas forecasting accuracy. Will message any further entry or indication as the market confirms.