Natural Gas: Bulls Could Soon Return

www.investing.com/analysis/natural-gas-bulls-could-soon-return-200632972

By Satendra Singh | Nov 30, 2022 01:29PM ET

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Movements of the natural gas futures since Oct. 24 indicate an upward direction despite the wobbly month as the volatility remained higher, where 5-10% moves happened many times.

Natural Gas Futures Daily Chart

A plethora of reasons pushed the natural gas futures to hit the lows at $4.749 on Oct. 24 after testing a peak at $10.005 on Aug. 23.

Natural Gas Futures Weekly Chart

Still, despite the short-term exhaustion natural gas has been facing since the last week of October, the long-term trend appears to be still intact.

Natural Gas Futures 1 Hr. Chart

I believe that the current weather pattern and the changing geo-political moves may keep these wild price swings during the first week of December, but the short-term exhaustion could end during the second week of December as the colder weather pattern will start between Dec. 8 – 11.

Natural Gas Futures 15 Minutes Chart

As I explained in my last analysis, a sharp surge in selling pressure could confirm further downside during the rest of the week if a breakdown below $6.834 plays out after the announcement of the weekly inventory on Thursday.

Moreover, Friday’s close will finally decide the further direction for the next week.

In conclusion, despite hopes for bullish trend during the second week of December, a cautious approach should be the first priority as the bears are still chasing a target at $4.7 amid growing volatility as the changing geo-political move could prevail over the demand-supply equation any time.

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.

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Comments (2)

webchow Dec 05, 2022 6:48PM ET

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Closing in on your target.

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webchow Dec 01, 2022 7:43AM ET

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Despite all the support you're still calling for $5. Interesting.

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gary st Dec 01, 2022 7:43AM ET

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Been calling 5 dollars for 6 weeks and now change of mind?

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Feb 01, 2023

ECB

2.50%

Feb 02, 2023

BOE

3.50%

Feb 02, 2023

SNB

1.00%

Mar 23, 2023

RBA

3.10%

Feb 07, 2023

BOC

4.50%

Mar 08, 2023

RBNZ

4.25%

Feb 22, 2023

BOJ

-0.10%

Mar 10, 2023

CBR

7.50%

Feb 10, 2023

RBI

6.25%

Feb 08, 2023

PBOC

3.65%

BCB

13.75%

Feb 01, 2023

US 30	33,965.9	+16.5	+0.05%
US 500	4,068.9	+8.5	+0.21%
Dow Jones	33,978.08	+28.67	+0.08%
S&P 500	4,070.56	+10.13	+0.25%
Nasdaq	11,621.71	+109.30	+0.95%
S&P 500 VIX	18.51	0.00	0.00%
Dollar Index	101.735	+0.097	+0.10%

Crude Oil WTI	79.38	-1.63	-2.01%
Brent Oil	86.33	-1.14	-1.30%
Natural Gas	2.856	+0.008	+0.28%
Gold	1,928.00	-2.00	-0.10%
Silver	23.725	-0.295	-1.23%
Copper	4.2300	-0.0375	-0.88%
US Soybeans	1,512.00	-10.00	-0.66%

U.S. 10Y	3.507	+-0.011	+-0.31%
U.S. 30Y	3.626	-0.008	-0.23%
U.S. 5Y	3.6119	+-0.0091	+-0.25%
U.S. 3M	4.6774	+0.0004	+0.01%
US 10Y T-Note	114.61	-0.25	-0.22%
Euro Bund	137.57	-0.18	-0.13%
10-2 Yield Spread	-69.58	-1.09	1.59%

Apple	145.93	+1.97	+1.37%
Alphabet A	99.37	+1.85	+1.90%
Tesla	177.88	+17.61	+10.99%
Amazon.com	102.24	+3.02	+3.04%
Netflix	360.77	-4.10	-1.12%
Meta Platforms	151.74	+4.44	+3.01%
Bank of America	35.45	+0.11	+0.31%

Natural Gas: Bulls Could Soon Return

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