Natural gas futures are showing the chart pattern that I noted in my last analysis. I think the bears have reached well inside the “bear trapping zone” once again in the process of chasing retreating bulls. Bears seem to forget that they have entered into the bulls’ territory now. I find that the natural gas has tested the $3 level, perhaps the last time of the season before the advent of winter. A short-term shift in weather-related announcements will not be enough to control the natural gas bulls. And now the bulls are feeling too furious to move ahead during the upcoming days. On the other hand, bears would prefer to retreat at an early point to escape the trapping zone for their safety.
As I noted in my analysis, I find natural gas priced at the same point that where bears prefer to escape from this trapping zone. Mother Nature looks poised to favor the bulls in the coming weeks. A move above $3.126 will soon confirm the advent of bulls’ strength. Be careful.
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