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Natural Gas: Consolidation Before A Constructive Move

Published 03/07/2017, 09:46 AM
Updated 07/09/2023, 06:31 AM
NG
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Natural gas futures price seems to be consolidating in a strong supporting zone what it crossed with a gap up opening on March 5th, 2017. Consolidation in a gap zone, especially, since it has already been crossed over once just a one trading session earlier indicates an emergence of a constructive move ahead.

On analysis of movement of natural gas futures price in different time zones on March 7th , 2017 at 09:16:00, I find an equally quick reversal to cover this gap once again is expected even before the announcement of impending inventory on Thursday, March 9th , 2017.

Disclaimer: This analysis is purely based on the technical observations. I do not have any position in natural gas. One can create position in natural gas at his/her own risk.

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