Natural gas (NYMEX)
Natural Gas positioning
Price series: Henry Hub futures (front month) · positions as of Tuesday Nov 3, 2026, published Friday Nov 6, 2026
This week · published Nov 6, 2026
Natural Gas, week of Nov 3, 2026: Managed money sit at the 0th percentile of their 3-year range — near the most bearish of the past 3 years. They cut 19,042 net long contracts on the week. 8-week signal: bearish divergence.
Signal log — Managed money
Every past signal in this market, and what price did afterwards.
Every rolling 8-week window classified as a bullish or bearish divergence, or as convergence where price and positioning agree. Price change is in percent; net change is in contracts.
Each row covers one stretch of weekly reports: the % is the price change over that stretch, the net figure is the change in the group's net position, in contracts.
- Bearish divergenceSep 8, 2026 → Nov 3, 2026price +4.1% · net position -128,617 contracts
- Convergence — healthy downtrendAug 25, 2026 → Oct 27, 2026price +0.3% · net position -134,644 contracts
- Bearish divergenceAug 11, 2026 → Oct 13, 2026price +14.0% · net position -15,851 contracts
- Convergence — healthy uptrendJul 28, 2026 → Sep 22, 2026price +16.3% · net position +40,279 contracts
- Convergence — healthy downtrendJun 16, 2026 → Aug 18, 2026price -13.3% · net position -15,171 contracts
- Bullish divergenceMay 26, 2026 → Jul 21, 2026price -12.7% · net position +31,670 contracts
- Convergence — healthy uptrendApr 21, 2026 → Jun 30, 2026price +28.6% · net position +35,766 contracts
- Bearish divergenceMar 31, 2026 → Jun 2, 2026price +15.3% · net position -47,238 contracts
- Convergence — healthy downtrendJan 27, 2026 → May 19, 2026price -33.2% · net position -74,369 contracts
- Bullish divergenceDec 2, 2025 → Mar 17, 2026price -41.5% · net position -4,655 contracts
- Bearish divergenceNov 25, 2025 → Jan 20, 2026price +8.8% · net position -11,755 contracts
- Convergence — healthy downtrendNov 4, 2025 → Jan 13, 2026price -28.1% · net position -61,148 contracts
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Source: CFTC Commitments of Traders — positions as of Tuesday, published the following Friday. All position figures are futures contracts unless the % of open interest view is selected. Positioning is a sentiment tool, not a timing signal. Not investment advice.