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Big Bears Could Cap Natural Gas At $5.248

By Satendra SinghCommoditiesSep 13, 2021 11:53AM ET
www.investing.com/analysis/big-bears-could-cap-natural-gas-at-5248-200601744
Big Bears Could Cap Natural Gas At $5.248
By Satendra Singh   |  Sep 13, 2021 11:53AM ET
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  • Natural gas futures tested a multi-year high on Friday at $5.248.
  • Hurricane Nicholas heads towards Texas and Louisiana
  • A bullish move above double-top formation in a weekly chart could increase the pace of exhaustion.
  • A sustainable move by natural gas futures below $5.079 will be the first confirmation of the advent of exhaustion.

Despite a higher injection on Thursday, natural gas bulls remained eager to cross the psychological resistance at $5 and finally tested a multi-year-high at $5.239 on Monday. Undoubtedly, this move seems to be evident enough to show the weather-related support to bulls from the last four weeks when natural gas futures started this current rally after testing a low at $3.734 in mid-August this year.

But I find that this bullish trend could vanish soon as the supply and production tend to normalcy this week. A sustainable move below $5.079 will be the first confirmation of the advent of a steep slide in natural gas futures. Undoubtedly, big bears tend not to miss the opportunity to load short positions at the current levels as the upside is limited, but the downside could be limitless.

Although Hurricane Nicholas has started to move towards Texas and Louisiana, any diversion of its defined route could deviate the currently prevailing bullish sentiments. Shortly, big bears could enter into short positions that could be too sumptuous for them at this time of the year. Undoubtedly, some of them have already taken an entry at 09:00 A.M. on Sept. 13, 2021.

Natural Gas Futures 15 Minutes Chart
Natural Gas Futures 15 Minutes Chart

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

Big Bears Could Cap Natural Gas At $5.248
 

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Big Bears Could Cap Natural Gas At $5.248

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Comments (7)
Sir Lancelot
Sir Lancelot Sep 14, 2021 8:21AM ET
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People who does the opposite of Singh are billionaires now. You can anti-follow him highly leveraged. 9 out of 10 comes anti-true.
Hai Qing
Hai Qing Sep 14, 2021 5:30AM ET
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I agree. At this hingh prices, gas producers would start to increase their production vigorously. The current prices are fully doubled compred only one year ago.
Carlo Mestre
Carlo Mestre Sep 14, 2021 5:30AM ET
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when they Will increase? if they wait you see Ng @ 10. that's why your comment Is plain useless.
SAKET MISHRA
SAKET MISHRA Sep 14, 2021 2:02AM ET
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all his predictions are wrong
Carlo Mestre
Carlo Mestre Sep 14, 2021 2:02AM ET
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Oh yeah. Agree 100%.
Gábor Halász
Gábor Halász Sep 14, 2021 12:31AM ET
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OMG 🤦‍♂️
Francesco Ammirata
Francesco Ammirata Sep 13, 2021 7:01PM ET
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5.7 coming
Francesco Ammirata
Francesco Ammirata Sep 13, 2021 7:01PM ET
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I told you it was coming…
Jeh Bomba
Jeh Bomba Sep 13, 2021 6:35PM ET
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Best contrarian indicator in the world
Carlo Mestre
Carlo Mestre Sep 13, 2021 6:35PM ET
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absolutely yes. don't know why they still keep him around
Carlo Mestre
Carlo Mestre Sep 13, 2021 5:47PM ET
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My God! I Remember the author Betting long at the top of the last 2018 Spike! 1511 articles!
 
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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.
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