Natural gas bulls look ready for another move higher before December ends.
First, I find that a breakout or a breakdown, out of the "Decisive Zone" ($2.585 to $2.767); could trigger a steep directional move. Secondly, the price action in Natural Gas could be influenced by the weather conditions on the East coast where the weather is expected to be cooler than normal; while the west coast is likely to go through warmer than normal weather conditions.
Natural Gas Futures could move above the psychological resistance at $3 but a selling spree may start anywhere above $3.256 during the upcoming week. On the other hand, the announcement of more withdrawal this week could encourage bulls to remain aggressive ahead.
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.