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Despite the arctic freeze conditions, Natural Gas futures moved downward during the previous week; which placed them in oversold territory at the current levels. On analysis of the movements of Natural Gas futures, in different time frames, I find that the opening levels on the first trading session of the week of February 3rd, 2019 will play quite a decisive role in defining the further directional moves of Natural Gas futures. No doubt, the current price level of Natural Gas futures reflects their position as much below the average price level of Natural Gas futures in the month of February. If we look back at the price levels in the month of February during the past few years average comes at the level of $2.957. Natural Gas futures should start the upcoming week of February 3rd, 2019 with a good gap-up opening since the current weather conditions are much colder than normal levels and will likely to remain even colder during the mid of this month.
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