Buy Signal on Gazprom – ADR quoted in London USD 4.43 USD // NatGas Seasonality

 

The Chart here below dated Feb 8th shows NatGas seasonality over the year since 2005 : In average,  the commodity starts the year on a weak note until February where it picks up quite strongly into June/July. Price tends to stabilize during Summer and thereafter decline into winter /end of year.

             Source : The Bespoke IG

 

In 2017 weakness has persisted until Mid to end February and Natgas has started its up move since then as one can see on below chart (Black line / Left scale) .

Chart here below points out correlation (*) between Nat Gas continuous Contract (left scale) and Gazprom (right scale )  : Nat Gas has started the move mid February as it did in average in last 12 years and Gazprom just (yesterday) follows up & showed (yesterday) a  buy signal (MACD buy signal bootom of chart) . Based on past action one can expect a 10 to 15% move to around 5 USD.

(*) Not that obvious as Ruble volatility has perturbated correlation  in last 3 years via its effect on Gazprom stock priced in USD.

 

 

 

 

 

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