Summary
- Natural Gas futures price seems ready for a Breakout after Impending Inventory Announcement On November 16th, 2917.
- Natural Gas futures price seems to have completed a consolidation phase, reflects a thick presence of bulls at the current level.
- Natural Gas Bulls seems too furious to move ahead with full strength.
Natural Gas futures price seems to be ready to move ahead after good consolidation above the strong supportive zone from $3.047 to $3.088. Natural Gas Bulls seem to be waiting for the announcement of impending inventory on November 16th, 2017 to move ahead towards a new Breakout Zone. An eruption of short-covering rally above the level of $3.333 will make this rally to continue for a long time.
On analysis of the movement of Natural Gas futures price in different time zones on November 16th, 2017 at 09:10:00, I find some advance signals before a breakout in Natural Gas futures price. I find the thick presence of bulls at the current level which make the probabilities of a vigorous move of the Natural Gas futures price towards a new breakout soon after the announcement of impending inventory, which seems to be expected in favor of bulls.
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