Natural Gas futures price seems to move well in 4 Hr. zone which I concluded in my last analysis. An analysis of the movement of natural gas futures inclined me further to conclude that now the Bulls seem to drive the natural gas futures price during the week of May 22nd, 2017.
On analysis of the movement of natural gas futures price on May 19th, 2017 at 12:42:00, I find the natural gas futures price to move well in my Expected Propositional Trading Zone for the week of May 22nd, 2017. Current and as well as forthcoming news flow seems to make the demand and supply situation of natural gas in favor of the Bulls during this week ahead.
Although, the voyage ahead will be full of volatility but I find every down move will provide a fresh buying opportunity to bulls because the main focus of the traders have shifted particularly towards lower production and rising exports. Secondly, fresh demand for natural gas is expected to rise after South Korea outlined plans to close ten old coal-fired power plants next month.
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.