The Natural Gas Future has sold off quite a bit this week, and when this bullish EAI Natural Gas Storage Change number was released at 15:30 GMT (10:30 EST) is only caused a very quick blip higher of about 20-30 ticks before being aggressively sold. The number was lower which means less supply and thus prices usually go higher, however it was not a very big deviation as it was only -6 below the median expectation. However the Price of the Natural Gas Future Future is usually quite sensitive to this number and it has moved on deviations of just 2-3 from expectations. Anyway it was a good oppotunity to short into the larger downtrend...
Here the figures:
EIA Natual Gas Storage Change
Estimates: Median -89 Average -87 Range -105 to -70
Actual: -95.00 Prior -76 No Revision
Here is the 1 minute chart immediately following the release:
Here is a chart of the Daily chart which shows the strong down trend...natural gas is getting cheaper as phracking in the USA means more without transport costs of bringing it from the middle east for example. Notice how the past 3 days in particular the Natural Gas Futures has broken the 3000, this is a spreadbet chart by the way and 3000 refers to $3 as the contract trades with 3 places after the decimal point and is quite volatile:
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