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Natural Gas: Bulls Could Be Gaining Momentum

BySatendra Singh
Published 01/17/2023, 02:35 PM
Updated 07/09/2023, 06:31 AM

Since the start of this week, movements in natural gas futures indicate renewed strength among bulls since the recent low tested last Friday at $3.384.

As I write this piece, natural gas futures hit a high at $3.789, and a low at $3.639, which indicates that bulls could be gaining momentum after a massive bloodbath last week.

The struggle between natural gas bears and bulls has turned tough amid growing expectations for changing weather patterns from Jan. 26.

The commodity tested the lows of Jun. 2021 last Friday and maintained further movement in the same manner in Jan. 2023, which ensures a breakout move above $4.5 soon amid increasing wild price swings.
Natural Gas Futures Daily Chart

Technically speaking, in the daily chart, if natural gas futures sustain above $3.782 in today’s trading session, bulls could find a breakout above $4.042.

The second significant resistance for natural gas futures would seem to be at $4.485, which could be the next target for natural gas bulls to test before the weekly inventory.

On the other hand, if bulls do not hold the immediate support at $3.584, they could lose their confidence.

If natural gas futures continue to maintain slow and steady movement as they did on Monday, they could easily hit their next target despite selling pressure at every step.

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.

Latest comments

Great writting, keep it going, I have closed the week with huge profit, going short after breaking 3.584
My Comments removed from here...??
Natural Gas: Bulls Could Be Gaining Momentum Jan 18, 2023 5:11AM ET $ 3.789 was the last Price n dropped from that point to now $ 3.419.
Natural Gas: Bulls Could Be Gaining Momentum Jan 18, 2023 5:08AM ET NG Price Just now kissed Price $ 3.418 ......  One more led of down to cut at least to cut $ 3.389 to drop new recent low........ https://invst.ly/-1ijf
Hello mr momentum singh no report today? Did you get fired?
I call this paid content
Lol! He us gamging his head in shame.. he us a disgrace!!
Waiting his another analysis 💋
On Jan 3rd he said NG most like will hit the new high, it meant NG will surpass all time high of 9ish+ !!! Days later, NG made new 52wks low !! LMFAO
lol
Better quit this job and open a masala spices store in brampton😆😆it suits you more
Lol. He will stop posting now. He has made a mockery of himself.
He wont Out of 10 analysis he makes 1 correct that too by mistake
Stop pooping on NG
Looking fowward yo your first bearish post, so i can enter long
LoL
agree, one bearish post might trigger a big bull run, lol
At this point, I don't think there's any question, it's not the producers that have destroyed this market. There are some big money speculators (hedge funds) that have a vested interest (and a LOT of money) in pressuring NG further. The only question at this point is, when will another fund (with equally deep pockets) decide that it has gone far enough? If they're all on the same side of this trade, $1 could be achieved.
pls dnt post any analysis hereafter
He will. If you pay attention before every major fall there will be a bullish analysis from him. When NG shot to almost 10 he posted bearish review daily. All to tap retailers. Similarly forums are filled with market makers to trap retailers . welcome to world of NG
How did you get this job ? How did they allow you to write such garbage all the time ? You are the worst of all the very worst in this sector.
You are a big joke! Just total lies and nothing else!!!
U should be shame of your self
Where the heck are your pride and integrity? You open your mouth daily and say wrong things days in and days out !!! Sick and tired of your shamelessly writing. Enoug is enough! Stop all your bs craps now.
This is a very reasonable portrait of the natural gas situation today.
almost lost 50% of my capital because of ur analysis 🥹
Happend same last year because of him
pls don't Trade based on the analysis
While going incrementally higher, the sell-offs are massive. There's no chance of a rebound before the summer. Range bound will be the best hope. Lower for longer.
You are telling that from 7$ ....This is not for you ,my friend
or he might be doing exactly what he is being told to trap retailers
he is a joke and everybody who trade with his articles
Your assessment and predictions are useless and i am understating. Go do something else
will N Gas give us sudden bullish move ?
$ 3.789 was the last Price n dropped from that point to now $ 3.419.
You should stop writing. The more bullish you get the more bearish the market becomes. Gone back to below 3.5 and you claimimg its building momentum..
unfortunately what you are saying is true Zaheer. These bullish reports do trap retailers. Instead of letting SL hit many read these and extend losses or do average hoping a imminent rebound.
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