Natural Gas: Lesser Injection In Hot Weather Could Propel Bullish Sentiments

Published 06/03/2021, 07:59 AM
Updated 07/09/2023, 06:31 AM

Since last Thursday, natural gas futures have been still sustaining above $3, a psychological support level; could boost the activeness of bulls if the weekly injection finds a sudden decrease from three digits to two today. I find the changing U.S. weather pattern may quite hot could result in strong demand this weekend.

Undoubtedly, the price range of natural gas futures might have a weekly inventory impact tonight. Today, storage could shake both the bulls and bears tonight with a volatile move from $2.948 to $3.166 up to this weekly closing. I find that the main trading range could see extremely volatile moves from $3.012 to $3.210.

I find that natural gas futures could take a bumpy move from here because just tested strong support at $3.045 that shows a surge in bullish sentiments. I find that the bullish sentiments could find more extension with lesser injection levels today. I find that the traders must keep a vigilant eye over the sustenance of natural gas futures before taking a long or short position which they find appropriate to trade the most liquid commodity of this world.
Natural Gas Futures 4 Hr. Chart
Natural Gas Futures 1 Hr. Chart
Natural Gas Futures 15 Minutes 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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