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Natural Gas: Bullish Crossover Could Resist Bears Below $3.2

By Satendra SinghCommoditiesMay 09, 2021 10:25PM ET
www.investing.com/analysis/natural-gas-bullish-crossover-could-resist-bears-below-32-200578804
Natural Gas: Bullish Crossover Could Resist Bears Below $3.2
By Satendra Singh   |  May 09, 2021 10:25PM ET
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Natural gas futures, which has been continuing to maintain well above $2.957, seems to have set this immediate support level for some time now. As such, we could see a breakout move today that would breach the psychological resistance at $3.

I find that the natural gas bulls have formed a strong base at $2.955 to thrash bears shortly. Undoubtedly, a sustainable move of natural gas futures above $3.062 could generate a short-covering rally.

I believe that a bullish crossover formation in the daily chart ensures an uptrend in natural gas futures this week. Despite growing volatility, natural gas futures have regained much of its strength above $2.9 to enable it to proceed to test $3.165 shortly.

The average trading range for natural gas futures could remain between $2.5 to $3.2 till the end of this month, but, the overall trend could be in favor of bulls during the upcoming weeks.

Natural Gas Futures Daily Chart
Natural Gas Futures Daily Chart

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 of the world.

Natural Gas: Bullish Crossover Could Resist Bears Below $3.2
 

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Natural Gas: Bullish Crossover Could Resist Bears Below $3.2

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Comments (3)
KC Cl
KC Cl May 11, 2021 10:59AM ET
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How can one person be wrong so many times?
Paullee Ca
Paullee_Ca May 11, 2021 1:35AM ET
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Spell checker not working? Natiral, really?
Igor Nagorski
Igor Nagorski May 10, 2021 4:14AM ET
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You started of with a solid bullish case - and in the next sentence, you suddenly admit that NG can trade up and down within a huge range within 3 weeks space! I am totally lost.
Aydin Zamanian
Aydin Zamanian May 10, 2021 4:14AM ET
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you expected something better from this legend ? Everyone knows, whatever he says, do the opposite to win.
Kris Christopher
Krislives May 10, 2021 4:14AM ET
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He is constantly manipulating the market you can just tell from his words using for bears
Igor Nagorski
Igor Nagorski May 10, 2021 4:14AM ET
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somehow, he got it right with NG surging to 3.00, which sounded unbelievable at that point
 
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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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