Natural Gas At Decisive Juncture Before Moving Ahead

14

Since submission of my last analysis, on analysis of the movements of Natural Gas futures in the same chart patterns, in different time frames, which I have noted in last analysis, I find that after a gap down opening, Natural Gas futures look to be at a ‘Decisive Juncture’, before moving ahead. No doubt that the Natural Gas bulls look ready for an aggressive move from the current levels with supportive weekly inventory announcement during the previous week, which may further remain on the positive side during this week too; but Natural Gas bulls will have to fill the gap first, before moving ahead. I find that only a sustainable move of Natural Gas futures above the level of $4.248 will clearly define the intention of Natural Gas bulls; otherwise Natural Gas bears may try to assemble in thick numbers between this ‘Gap’ ($4.308 – $4.121) which has been created on the first trading session of the week. I find enough evidence of an eruptive move any time, once the Natural Gas futures make a sustainable move above $4.189 within next few hours. No doubt, “November Factor” is still in focus, which enforces the Natural Gas futures to take U turn at any step. I find that the need of the hour is to remain cautious at every step and Natural Gas futures are still getting good support at the weekly support level. I find the Natural Gas futures to take a decisive move inside the ‘Decisive Zone’, which I have defined in the following charts. Let’s have a look at the movement of Natural Gas futures in the following charts.

Natural Gas At Decisive Juncture Before Moving Ahead

Natural Gas Futures Daily Chart – Expected Trading Zones

Natural Gas At Decisive Juncture Before Moving Ahead

Natural Gas Futures 4 Hr. Chart – Expected Trading Zones

Natural Gas At Decisive Juncture Before Moving Ahead

Natural Gas Futures 1 Hr. Chart – Expected Trading Zones

Disclaimer: This analysis is only for educational purpose. Readers are requested to kindly consider their own view first, before taking any position.

LEAVE A REPLY

Please enter your comment!
Please enter your name here