This article has already been saved in your Saved Items
NG
-2.88%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Since this week's opening, movements in natural gas futures contracts indicate a likely completion of the bottom formation, pointing toward a bounce soon.
After testing a new low in Monday’s trading session, natural gas futures are seeing renewed strength among bulls to push prices upward from the day’s low at $2.646.
Undoubtedly, bulls are struggling a lot despite heavy bearish pressure amid hopes of tilting weather conditions in their favor as the Texas oil regulator advises pipeline operators to prepare for severe winter conditions.
This seems to have filled bulls with renewed strength to come forward and command price movements as the worst of winter is yet to come.
Natural Gas Futures 15-Minute Chart
In the 15-minutes chart, natural gas futures look ready for a breakout move above 200 DMA, which is at $2.774 in today’s trading session.
A sustainable move above $3.258 will be the first confirmation that could be completed within the upcoming two trading sessions as the weather could turn chilly shortly.
On the other hand, any downward move above $2.664 will provide an opportunity for bulls to enter the scene in thick numbers once again.
Wild price swings could continue this week, but the trend could remain bullish amid growing expectations for changing weather as producers will have to keep prices up.
I believe a sustainable move above the initial resistance at $2.905 will provide a significant clue on further directional trends.
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.
Gold delivers fizz-worthy $2,000 high for bulls; record peak will likely take longer
Upside momentum intact despite a drop from Monday’s one-year highs
Fed in play on Wednesday...
Yahoo! We got through more than 24 hours without a bank failure and that put an upward tilt to oil that has been divorced from supply and demand fundamentals! Fears that First...
By the start of European trading on Monday, WTI had lost over 20% from its high of $80.96 on 7 March to a low of $64.36. The sell-off that intensified last week may well be giving...
Natural Gas: Bulls Look Ready to Bounce Soon
Add a Comment
Comment Guidelines
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrichthe conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.
Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Tecnicals lack confluence. Anticipated & feared 500 bcf above 5 year average is still workin its way up. if it arrives. price is going to drop Further maybe in half. retracement will come but won't shake trend (maybe next week) but if you just Take Last Years supply/demand summary from EIA versus this year= You won't be surprised by what you see. You don't have to go back decades (as some do or even recall) to see what's happenin'
This AnalAss don’t care what readers say or think! He just kept on cranking out his wrong nasty guesses days in and days out ! But, eventually his guesses will get One Right ! And i just cant wait to see it happene… it’s been months waiting now.
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.