Natural Gas: Bulls Could Head Higher

Published 12/17/2020, 03:34 AM
Updated 07/09/2023, 06:31 AM

On analysis of the movements of Natural Gas Futures in different time frames, I find that the Natural Gas Futures have finally formed a strong base at the level of $2.6.

Natural Gas could head for its next breakout above $3 given the weather shift to colder temperatures this week.  Stockpiles have already started to show an advent of withdrawals since last week, encouraging Natural Gas bulls to remain aggressive from December 17th, 2020.

There is no doubt that the weekly inventory on December 17th could bring a sudden surprise increase in withdrawal levels this time too. I find that the Natural Gas Futures could see a weekly closing above the level of $3 this time.

Natural Gas Futures Daily Chart

Natural Gas Futures 1 Hr. Chart

Disclaimer: The author of this analysis does not have any position in Natural Gas futures. Readers are advised to take any position at their own risk; as Natural Gas is one of the most liquid commodities of the world.

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