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Natural Gas: Bulls Look Ready to Bounce Soon

BySatendra Singh
Published 01/30/2023, 02:22 PM
Updated 07/09/2023, 06:31 AM

Since this week's opening, movements in natural gas futures contracts indicate a likely completion of the bottom formation, pointing toward a bounce soon.

After testing a new low in Monday’s trading session, natural gas futures are seeing renewed strength among bulls to push prices upward from the day’s low at $2.646.

Undoubtedly, bulls are struggling a lot despite heavy bearish pressure amid hopes of tilting weather conditions in their favor as the Texas oil regulator advises pipeline operators to prepare for severe winter conditions.

This seems to have filled bulls with renewed strength to come forward and command price movements as the worst of winter is yet to come.

Natural Gas Futures 15-Minute Chart

In the 15-minutes chart, natural gas futures look ready for a breakout move above 200 DMA, which is at $2.774 in today’s trading session.

A sustainable move above $3.258 will be the first confirmation that could be completed within the upcoming two trading sessions as the weather could turn chilly shortly.

On the other hand, any downward move above $2.664 will provide an opportunity for bulls to enter the scene in thick numbers once again.

Wild price swings could continue this week, but the trend could remain bullish amid growing expectations for changing weather as producers will have to keep prices up.

I believe a sustainable move above the initial resistance at $2.905 will provide a significant clue on further directional trends.

Disclaimer: The author of this analysis does not have any position in Natural Gas futures. Readers are advised to take any position at their own risk; as Natural Gas is one of the most liquid commodities of the world.

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Latest comments

Tecnicals lack confluence. Anticipated & feared 500 bcf above 5 year average is still workin its way up. if it arrives. price is going to drop Further maybe in half. retracement will come but won't shake trend (maybe next week) but if you just Take Last Years supply/demand summary from EIA versus this year= You won't be surprised by what you see. You don't have to go back decades (as some do or even recall) to see what's happenin'
don't fool peoples
he is only looking charts, he is poor very in fundamentals
Hey Mr. Singh, here is a bouncing bull for you( search it on amazon)
This AnalAss don’t care what readers say or think! He just kept on cranking out his wrong nasty guesses days in and days out ! But, eventually his guesses will get One Right ! And i just cant wait to see it happene… it’s been months waiting now.
But this is not the day
Do you even read our comments Mr Singh????? Stopping now may earn you some respect!!!!!!!!!!
He just a loser and nothing else. ng is yet again tanking. Just a pathetic fellow
biggest cluprirt for ng
Ready to bounce! For sure, as in lets bounce out this mudder and find a more sensical commodity
Don't be trap yourself.
$ 3.258 out of card before this winter season expiry.
You are a disgrace and have become a laughing stock amongst other writers. Go check it out and you will see.
100% success rate in failure.
Why do you even bother writing I noticed everything you write is always wrong, is it to get more retail to feel their bags and provide liquidity for a big guys?
It's happening in reverse on what you said.. better post some negative news..
again, time to short... Dude, are you not embarrassed....Thin that you bankrupt FED if you work there
Disclaimer: The author of this analysis does not have any position in Natural Gas futures. VERY VERY IMPORTANT STATEMENT
Lol! Same nonsense day after day. Mr Singh you are the worst of the worst! How did you become an analyst?
dont know whats worse... the manipulated destruction of Natural Gas prices or HIS VOICE....   WOW..... I am still amazed that the first trade SUNDAY NIGHT WAS ONLY 200 SHARES BUT 6% LOWER? how can that small of a trade effect MILLIONS$$$$ ---0h yeah, manipulation
Please somebody fire him
Ask the forum administrator (investing!) , i did.. but collectively they may do something. This has been going for 3-4 years now. Same bad guesses, meaningless charts.🙂
Sorry all , I just realized I have to remove him from my list ......he has been saying bounce since 7$ ...now at any point if it bounce will refer this as success
He will, we won't. Because it is inevitable
He is just trying to console himself. Things have gone terribly wrong for him. He is probably at the worst point in his career. Mr Singh you have my support dont you worry all will be fine. We will become very good friends when NG goes back to $7 and possibly you can treat me to a hot masala dinner!
Well guys, I don't think he has a choice but to say it's going to go up, and find silly reasons for it. In fact, it is bound to turn and go bullish at some point and if he keep saying it will go up, he will be right at least once when the bulls sharpen their hors. I am waiting for that moment because I have long positions from Friday.
This guy just don’t give up. Unbelievable persistence. Showing the same chart with shoot up arrow to the moon… your guesses will be right someday, then people will give you a great praises and forget all about your so wrongly guesses in the past. Can’t wait for your glory days…. SMH
Ha ha ha Bahut bada besharm hai
You have lost your credibility, I would like to believe in your analysis, but you have been wrong for over a month.
sir can i hold long position for 5$
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