It appears that went from five months of steady declines to a bouncing ball. The energy commodity that is like crack cocaine because of its attraction to market participants that thrive on volatility looks awful when falling and sexy when rallying.
After falling back below $1.60 last week, the price rallied back to a high of $1.889 this week. The energy commodity ran out of upside steam and was back at the $1.70 level on May 21. The price variance in the energy commodity is offering bulls and bears that have their fingers on the pulse of the market plenty of profitable opportunities these days.
On Thursday, May 21, the Energy Information Administration released its latest inventory data for the week ending May 15. After two consecutive weeks of triple-digit injections into storage, the market expected a slightly lower inventory build. The United States Natural Gas Fund (NYSE:) tracks the price of the energy commodity higher and lower. The natural gas addicts prefer the…
