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Natural Gas: Rebound in the Cards Before End of the Week?

BySatendra Singh
Published 01/26/2023, 11:33 AM
Updated 07/09/2023, 06:31 AM

Movements in the natural gas futures contract since the breakdown below $3 indicate a sharp reversal could start soon after the inventory announcement tomorrow.

The commodity stayed under selling pressure amid messy weather announcements and finally hit a new low at $2.689 in today’s trading session. Last time, the natural gas futures hit this low on Apr. 26, 2021.

I believe today’s trading session could be a lone witness of this low as the natural gas futures look ready to bounce amid a growing possible February freeze shorty on Wednesday.

The weather data was colder trending for next week as frigid Canadian air impacts much of the northern and central US with frosty lows of the -20s to 20s.

Natural Gas Futures 15-Minutes Chart

Technically speaking, a sustained move above the immediate resistance at $3.2 could generate a fresh wave of buying before this weekly closing as the coming weekends could remain colder, which could drive a strong uptrend in natural gas prices.

No doubt, bears could try to repress every rally, but the bulls could turn aggressive once they find supportive weather above $3.767. Wild price swings could surge from Jan. 28 onwards as the bulls could turn aggressive once the natural gas futures hold above this level before this weekly closing.

I conclude that if natural gas manages to find a breakout above $3.158 in today’s trading, that would ensure the advent of a weekly gap-up during the upcoming week.

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.

Latest comments

what abt tomorrow's Natural gas price prediction....up or down?
Great post and thanks for sharing valuable trading insights. From looking at the comments I feel some people are attached to the articles negatively and some are attached with the updates positively. The conclusion is that people are attached and keep coming back here for trading insights! That's just wonderful.
ready for 263 today or tomorrow
when you earn, you say thanks. you lost......
Please stop embarrassing yourself, don’t make yourself look more stupid by each and every of your articles. Enough is enough.
Maybe if you stop forcasting price finally bounce and reverse
true if he stop posting than ng will bounce
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣again you🤣🤣🤣🤣🤣🤣guys sell and don't worry
Please don’t put him down people. He is still trying and sticking to his views. He is just posting technical analysis. Ideally that’s what should be followed but due to the manipulation it is not.
So just shut ! Don’t have knowledge, experience, skill… enough them do NOT WRITE! And he’s not one time said wrong thing but all the time !!!
He should know that HEDGE are a cartel with criminal acting purpose !! He should erite that insted of tecnicals
He should take position against have speculators in the interest of both consumers and producers and not get silent about hede manipolation both side , now st the bottom and last summer at the top !!
Abe dhakkan. Bund kar apni bakwaas.
earn money, do opposite of what Satendra says.. simple
I appreciate satendra's articles, forget these trolls below
You’re either crazy or brown nose
Everyone knows that your analysis is worthless. But you need to take some english language courses also. Too many grammatical mistakes in your short article.
some people lost everything on his narrative
yea this guy and the John the hemoroid are the worse. really hope hf's pay to post this crap else u really need a job. that graph is just too funny 😁😂color coding looks good too clearly a lot happening there.
NG could easily gap up and run from here. it is clearly oversold.  the r.s.i. is in the low 20s. sell when r.s.i. is above 80 to 85 buy when r.s.i. is in the 20s longtime trader here.  >45 years
No My Freind..... You have cost a LOT Of People a LOT OF MONEY. You are the Weakest LINK
Eventually he will be right..LOL
Actually in trading you have like a 50% chance to be right.. so u are the worst ever lol
Not again , please give us a break
Tatti
yes his report is a day late and the usual fall after his bullish report has already happened. lets see what Friday brings
This needs to learn the ABCs of natural gas investing. He needs to accept that thise fancy charts he shows in his reports mean nothing for natural gas. Report after Report he has been showing charts indicating a reversal, none of which has come to fruition and instead the price of NG keeps falling. Mr Singh please either stop writing or provide something of substance. Stick to relevant facts and keep the analysis and predictions out of your report as they are dismally wrong. They are naive folks out there who actually follow you and trade accordingly. You are misleading them!!
3.158? What are you smoking??? Its struggling staying above 2.75 leave alone $3!!!
Lol joker! EIA announcement has already been made. You sleeping. Do you want me to send you the link to where you can get the report? 😀😀😀it was 91 bcf net draw
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