Since my last analysis, no doubt that the Natural Gas bulls have become too aggressive after crossing the levels of $3.888; but they may face stiff resistance at the levels of $4.096 before moving ahead because ‘November Factor’ may attract natural gas bears too, particularly at the time while bulls look a little hesitant for a sustainable above the levels of $4.089. I find that a steep move of Natural Gas bulls is also evident enough to show their thick presence at the current levels which may help them to cross their immediate resistance at $4.096. If the Natural Gas futures successfully sustain above this immediate resistance, Natural Gas bulls will take more upward moves amid growing volatility.
Let’s have a look at the movements of Natural Gas futures in different time frames in the following chart.
Natural Gas Futures Weekly Chart – Expect Trading Zones
Natural Gas Futures Daily Chart – Expect Trading Zones
Natural Gas Futures 4 Hr. Chart – Expect Trading Zones
Disclaimer: This analysis is only for educational purpose. Readers are requested to kindly consider their own view first, before taking any position.