Please try another search
On Friday, natural gas futures found a strong reversal after testing the day's low at $4.839, before testing a high at $5.155. This trend shows the presence of value-seeking buyers below $5. Natural gas futures could trade in a range-bound manner between $4.888 - $6.739 during the coming week amid growing uncertainty regarding the weather outlook.
Currently, natural gas futures are under selling pressure due to growing concern over the resurging pandemic that could disrupt the production and export of U.S. natural gas. But, winter could knock on the door anytime during the coming week, and that could propel natural gas futures into creating a gap-up on the first trading session of the week.
Natural gas futures could find a sustainable move above $5.868 that might be the first confirmation the current uptrend is continuing. Undoubtedly, if the commodity finds a breakout above the psychological resistance at $6, that will be the second confirmation. On the other hand, a two-digit weekly injection could attract bears, pushing natural gas prices to break support at $4.726.
A sharp downward move will provide an opportunity to go long above the $4.444 level, as the reversal could be equally strong from this level. The rollover of December contracts on Nov. 21, 2021 will decide the directional move of natural gas futures during the upcoming week. They could continue to trade in a range of $4.7 to $6.7 till the week's closing. But, growing volatility could compel a test of $6.2 on the higher side and $4.2 on the lower side due to any sudden tilt in the weather forecast.
For over 2 years, all crude oil prices did was go higher and higher. And consumers have been feeling this pain as the gas pump. Well, this month, crude oil prices turned sharply...
It’s certain that the recession will come eventually. The questions are: When? How will it impact the market? And, are there any reasons to be afraid? Is a recession coming?...
Energy prices are trying to find some support after getting beat up on recession fears in data from the American Petroleum Institute that failed to inspire people to come back in...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
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.