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Natural Gas: Reversal From Trapping Zone, An Only Option For Bulls

Published 01/23/2018, 07:20 AM
Updated 07/09/2023, 06:31 AM
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On analysis of the movement of Natural Gas futures price on January 23rd, 2018 in different chart patterns which I have noted in my last few analyses, I find that the Natural Gas bulls have been completely trapped inside the Trapping Zone, formed by the bears, at the current levels.

Now, I find the Natural Gas bulls have only left with one last option for their safety and that is their quick reversal from the current levels, even very much in advance before the announcement of upcoming impending inventory on January 25th, 2018.I find the bulls’ reversal will be too quick to escape in hurry due to thick presence of polar bears at the level $3.333 which has always been a long term tough resistance. Secondly rising dollar from the bottom levels will be a boosting factor for the Natural Gas bears.

Having a look at the current position of the Natural Gas futures price in the same chart patterns confirms the fact that the return of the dragon will be too drastic this time.

Natural Gas Futures Price 4 Hr. Chart - Bulls Trapping Zone

Natural Gas Futures Price 4 Hr. Chart - Comparative Movement Of Dollar Futures Index

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