Natural gas futures have finally found the bottom before a steep upward bounce. I find that the trapped bears will create the first step of ladder for the bulls to make an upward move above $3.333 on or before March 16th-17th, 2019.
No doubt that the changing weather patter is evident enough for current indecisiveness in Natural Gas futures, but the AccuWeather reports defines this weather patterns more clearly. The midday weather data came in slightly warmer for next week but showed better potential for colder temperatures to develop across the United States March 16-20, including into the East, according to NatGasWeather.
“After this week there will be a mix of cold shots and milder breaks” making for a “relatively neutral pattern” starting Saturday (March 9) and continuing through March 15, NatGasWeather said. By the third week of March, both the American and European models “continue to favor colder than normal conditions returning across much of the country” to potentially return demand to stronger than normal levels.
I find the Natural Gas futures have found strong support at 200 DMA in 4-hour chart; and look ready for a bounce. I further conclude that closing above $2.888 on March 11th, 2019 will confirm the beginning of bounce.
Watch my commentary.
Natural Gas Futures 4 Hr. Chart – Expected Trading Zones For The Week Of March 10th, 2019
Natural Gas Futures 1 Hr. Chart – Expected Trading Zones For The Week Of March 10th, 2019
Natural Gas Futures 15 Minutes Chart – Expected Opening Zones For The Week Of March 10th, 2019
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