On analysis of the movement of natural gas in different time zones, I find the natural gas futures price seems to struggle too hard to break through its strong resistance, since the announcement of a weekly inventory showing a more than expected withdrawal of natural gas on March 9th , 2017.
Movement of natural gas futures price has been exactly according to predicted levels in a 15 Minutes Chart for the inventory announcement day in my analysis Natural Gas: Expected Trading Zone For March 9th-10th 2017. I explained the accuracy of the predicted move in my analysis Natural Gas: Expected Trading Zone For March 9th-10th 2017- Part II.
Movement of the natural gas futures price in different time zones and as well in all the “Expected Moving Zones”, drawn by me from time to time during the last few weeks in my few last analyses on natural gas; current moving position of natural futures price on March 10th , 2017 at 11:00:00 can be seen in the following charts:
Natural Gas 15 Minutes Chart – Expected Trading Zone for March 9th – 10th, 2017
Natural Gas 5 Hr. Chart – Expected Trading Zone for March 2017
Natural Gas Daily Chart – Expected Trading Zone for March – September 2017
Natural Gas Weekly Chart – Expected Trading Zone for February 13th, 2017 to April 17th , 2017
Natural Gas Weekly Chart – Decisive Trading Zone for 2017
On analysis of the movement of natural gas futures price, I find that if the natural gas futures price closes above $3.056 today, a gap up opening may be seen on March 13th , 2017 above $3.124. And even, if the natural gas price closes between $2.958 - $2.978, then also we may see a little gap up opening at $3.045 on March 13th, 2017. I find that most of the technical, fundamental and the prevailing weather conditions may drive the natural gas futures towards an upper trading range in the days ahead. My expected trading range for the of March 13th, 2017 has been shown below:
Natural Gas Expected Trading Zone for the Week of March 13th , 2017
Disclaimer: This analysis is purely based on the technical observations. I do not have any position in natural gas. One can create position in natural gas at his/her own risk.