Here is yesterdays "tea leaf reading" on the EIA build number due out at 10:30 today.
DOWJones.....Projected build 41....Range 35, 38, 58, LYear 31,.... 5YrAvg 49
Everything I found this week seemed to be quoting from the same/above article.
If 41 Bcf pans out, it looks like the High Heat has shown up in the EIA dipstick readings of 7/22.
I see no sign of Ng price movement. It is just hanging at around 4.32 - 4.33.
Maybe price will "spike up" on the lower build, but I expect it will only be transient and short lived.
I expect price to continue to decline until a "major storm" shuts down Gulf production, then may see a bounce, but I still think the trend will remain "down" throughout August.
Any thoughts ??