Since the announcement of Natural Gas inventory on Wednesday, I find that the Natural Gas futures look ready for a technical bounce from the levels of $2.268; after completing a good consolidation since July 3, 2019. No doubt that the Natural Gas futures have already tested the lowest levels of this season on June 20, 2019; and have come up to the current levels which look to attract more bulls to go long for the target of $2.889 during the upcoming week.
No doubt that the weekly closing levels of this week will confirm the continuity of an uptrend of this season, while the Natural Gas futures have come at the lower level due to prevailing oversupply issue; but the currently going on efforts to boost export of U.S. Natural Gas to other countries from Europe to Asia will negate this oversupply issue shortly.
Watch my video on Natural Gas below.
https://youtu.be/VaWaqLQK4mA
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