Natural gas futures price is maintaining its presence within its first possible seasonal peak zone “A" and seems ready to achieve an extensive move during the first half of the month of January. An expected gap-up opening may be on the first trading day of 2017, due to vanished book closure phenomenon, and will confirm the continuity of this bullish trend.
As I predicted in my last analysis, natural gas futures price has successfully entered into its First Possible Peak Zone “A” with possible date 26-12-2016. It is clearly visible in the 1 hour chart that natural gas futures price has taken good support on an uptrend line above the bullish zone and its reversal from there indicates the formation of an upward move.
Movement of natural gas futures price in the same chart, in different time zones, may be seen on December 30th, 2016. An extensive volatility in natural gas futures price indicates towards forthcoming tidal moves. A day-closing above $3.918 during the first trading week of January 2017 will confirm the formation of a seasonal peak very soon.
Let's see what the new year has in store for us. Have a look at the movement of natural gas future price in the following weekly, daily, 5 hour and 1 hour charts and trade. But don’t forget Stop Loss Order formula.
Have a nice trading week.
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.