(Bloomberg) Hedge funds that raised bearish bets on natural gas by the most in two months were left blindsided after prices instead surged to the highest since the beginning of 2015. Money managers increased short positions by 7.7 percent in the week ended Oct. 4, U.S. Commodity Futures Trading Commission data show. Long wagers also fell.
Both moves, it turns out, were wrong. Gas prices broke through resistance on Friday and a key technical indicator indicates the rally may have further to run.
