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Natural Gas: 2022 Likely to End with a Wild Price Swing

By Satendra SinghCommoditiesDec 30, 2022 03:26AM ET
www.investing.com/analysis/natural-gas-2022-likely-to-end-with-a-wild-price-swing-200633917
Natural Gas: 2022 Likely to End with a Wild Price Swing
By Satendra Singh   |  Dec 30, 2022 03:26AM ET
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Movements of natural gas futures since the announcement of the weekly inventory on Thursday indicates a wild price swing is likely on the last trading session of 2022.

Undoubtedly, both the bears and the bulls are struggling to prove their strength, which has constructed a strong base for the bulls to carry on buying sprees above the significant support at $4.428.

Since the weekly withdrawal this time was much larger than the 5-year average of -106 Bcf could keep the trend in favor of the natural gas bulls during the upcoming week after Jan.4, 2023.
 

Natural Gas Futures 1 Hr. Chart
Natural Gas Futures 1 Hr. Chart

In a 1-Hour chart, the natural gas futures look ready for a breakout that could start at 05:00 a.m. in today’s trading session as the base formation seems to be over now.
 
Natural Gas Futures 4 Hr. Chart
Natural Gas Futures 4 Hr. Chart

In a 4-Hour chart, the natural gas futures have formed a bullish hammer could find next confirmatory candle shortly before 06:00 a.m. today.
 
Natural Gas Futures Daily Chart
Natural Gas Futures Daily Chart

In a daily chart, natural gas futures could find strong reversal from the current level. Only a breakout above the immediate resistance at $4.881 will confirm the continuity of a steep reversal.

Undoubtedly, a weekly closing by the natural gas futures above $5.5 could confirm the current uptrend as the natural gas futures could not ignore the arrival of the Winters at this point of time.

Best wishes to everyone for a happy and prosperous New Year!

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 in the world.

Natural Gas: 2022 Likely to End with a Wild Price Swing
 

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Natural Gas: 2022 Likely to End with a Wild Price Swing

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Comments (18)
Mukesh Agarwal
Mukesh Agarwal Jan 03, 2023 8:07PM ET
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paid analysis
Jim Wang
Jim Wang Jan 03, 2023 3:26PM ET
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please have another prediction 5.2$, we need push it to 2.5$
Jose Joseph
Jose Joseph Jan 03, 2023 6:18AM ET
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His article is the best indicator. Trade against his view!
Zaheer Khalfan
Zaheer Khalfan Jan 03, 2023 6:18AM ET
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Yes i agree!
CA Naveen Reddy pathuri
CA Naveen Reddy pathuri Jan 03, 2023 5:15AM ET
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what a grt prediction
Crim Jamer
Crim Jamer Jan 03, 2023 2:56AM ET
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He predicted reversal at 4.7, at 4.4 and the price is 4.0 now.
Mukesh Agarwal
Mukesh Agarwal Jan 02, 2023 10:10PM ET
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When Jan contract was signed 3.59 ,why people forgets ?
Zaheer Khalfan
Zaheer Khalfan Jan 02, 2023 7:20PM ET
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NG is still bleeding.
Sachin Ja
Sachin Ja Jan 02, 2023 3:39PM ET
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He had earlier predicted 9 when everyone was dreaming of 2-3.. Give some timeframe to review gis prediction before accusing the writer
Chart Harmonics
Chart Harmonics Jan 01, 2023 6:25PM ET
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Its NG. The only thing guaranteed is wild swings.
Justin Moe
Justin Moe Dec 31, 2022 10:15PM ET
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Thanks
 
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