Natural gas movement after the announcement of weekly storage data moved in a way that was enough to create a lot of confusion among the traders about the direction of the next specific move. Therefore, I tried well in advance, just 1 hour before the announcement of the natural gas. In my last analysis predicted the possible trading zone after the announcement of the weekly inventory. Movement of natural gas futures price can be seen in the same zone in the 1 hour chart on February 17th, 2017 at 10:00.
On analysis of the movement of natural gas futures price in this expected trading zone, I find the downside is very limited for natural gas futures price because it has already traded at the lower end of this trading zone and has returned back inside. All of the moving averages are indicating an up move very soon, probably today or in the first trading session of the next week of February 20th, 2017.
On analysis of the movement of natural gas futures price in different time zones, I find that the uptrend is still intact and all the gaps created during its recent downward move have to be filled up only by gap ups in the time to come. My analysis projection of natural gas futures price in the following 1 hour and 5 hour charts on February 17th, 2017 at 10:00.
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.