I am maintaining my view at neutral and my bias to cautiously bearish as the market retreated back below the technical range resistance level that has been in play since the end of April. That said the market still remains in a mode of discounting bearish news and embracing anything even remotely bullish and this pattern could derail any downside correction at any time irrespective of the bearish fundamentals.
I am maintaining my Nat Gas view and bias at cautiously bearish as the short-term weather has moved into a non-supportive pattern for Nat Gas cooling demand. The nearby fundamentals still remain bearish.
Markets are mostly lower heading into the US trading session as shown in the following table.