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Natural Gas: Repeated Failed Attempts To Sustain Are Evident Enough

Published 01/24/2018, 09:16 AM
Updated 07/09/2023, 06:31 AM


The date was December 28, 2016, the time was exactly same, day was also same Wednesday as it is today on January 24th, 2018, Natural Gas was trading at the same level as now at the same day at the same level after formation a new peak. But the failed repeated attempt of natural gas bulls resulted in formation of an “Exhaustive Candle” what it was termed as just after seven weeks; and the final results afterward was win-win situation for natural gas bears on February 22nd, 2017 when Natural Gas futures price touched the level of $2.645.

On analysis of the movement of Natural Gas futures price, I find the most of the similarities are going to repeat the same scenario once again this time too. One of the most important repetitive feature is “failed attempts” at the same time in the same zone which are evident enough to convert this peak into an "Exhaustive Candle" and make the possiblities of afterward downward moves.

Natural Gas Futures Price Charts on December 28th, 2016 and afterwards moves

Natural Gas Futures Price 4 Hr. Chart - Formation of Exhaustive Candle On December 28th, 2016 - Chart Ist

Natural Gas Futures Price 4 Hr. Chart - Formation of Exhaustive Candle On December 28th, 2016 - Chart 2nd

Natural Gas Futures Price Current Chart on January 24th, 2018

Natural Gas Futures Price 4 Hr. Chart - Formation of Exhaustive Candle On January 24th, 2018

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1. This content is for information and educational purposes only and should not be considered as an investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.

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Latest comments

Dear mr satendra Ian holding Dgaz @ 23.00 do u think I should sell it and take a small loss or hold it .. Plz advise
* I'm
Sir. Is it advisable to buy Natural Gas March contract?
Thanks a lot for your guidance sir
I think giving open advise like this by an author is against the investing.com or regulatory policies!
Satendra: if he waits till feb22nd he will be closer to moving to April contract by then the March contract movement will be done and too late imo
isn't it match with crude also ? thank you
Dear Mr. Joshi thanks for valuable comments. You are absolutely right.
Hi mr satendra I'm a fan of yours I do appreciate your thoughts on NG . Thank u
Dear Mr. Mohanad thanks for you kind regards! My best wishes are always with you.
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