Natural Gas: Monthly Closing Could Be Decisive

Published 05/31/2021, 04:55 AM
Updated 07/09/2023, 06:31 AM

Natural gas has eked out gains from the post-inventory dip on Thursday. Expected levels were a three-digit injection, but natural gas futures were sustaining well above the psychological support at $3.

In my last analysis, I warned about the immediate appearance of extensive volatility just on the final inventory outcome. The natural gas futures started to slip down and tested its base at $2.914 before starting a reversal move from there. Undoubtedly, this reversal seems to be quite steep to push the futures above $3.

I find that the monthly closing levels will play a decisive role for natural gas to test fresh highs or continue to remain volatile during the upcoming month. 

Natural Gas Futures Daily Chart

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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