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Natural Gas: Formations Before Forwarding Moves

Published 03/04/2017, 02:36 AM
Updated 07/09/2023, 06:31 AM
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Natural Gas futures price movement from November 9th, 2016 to November 18th, 2017 in a volatile manner within a fixed range before the beginning of an uptrend with a gap up on November 20th, 2016; and the uptrend continued till December 28th, 2016. At that time Natural Gas futures were trading exactly within the same price range, which can be seen in hourly charts of the natural gas from November 9th, 2016 to December 28th, 2016.

On analysis of the movement of natural gas futures price in different time zones, I find that natural gas futures price movement since February 26th, 2017 proves that this recovery till the closing on March 3rd , 2017 at $2.825 has proved that the current price trend has enough strength to move ahead in upward direction. This time the uptrend zone will be continued till April 17th, 2017. Natural Gas futures price opening on the first trading session of the week of 6th March, 2017 will play a crucial role in this zone.

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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