Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Natural Gas: What If Weekly Opening Gap Is Filled Up Tonight?

Published 01/02/2023, 11:32
Updated 09/07/2023, 11:31

Natural Gas Futures traded flat since a gap-down opening this week, showing the thick presence of bears and bulls at the current level.

No doubt both the bulls and bears have their reasons to fight for a decisive move as the messy weather reports are still on the way.

Natural Gas Futures Weekly Chart

Technically speaking, in the weekly chart, natural gas futures have shown the formation of a bullish candle that is still in the natal stage but could see some more bullish formation as the technical reversal is still on the cards.

Natural Gas Futures Daily Chart

In a daily chart, formations look quite indecisive as the buying continues at the current levels at this time of the winter.

Natural Gas Futures 15 Minutes Chart

In the 15-minutes chart, the natural gas futures are sustaining above the 200 DMA since this weekly opening looks ready to fill the opening gap in today’s trading session as the global commodities and equities will face extreme volatility soon as the Fed opens its cards tonight.

Undoubtedly if the natural gas futures fill this opening gap, bulls could move against all odds above $3.586 before this weekly closing, as the weekly withdrawal could be supportive for them this Thursday.

I conclude that the demand for natural gas could surge during the next five days before turning low as the cold air will retreat to the northern region this weekend.

Undoubtedly, the natural gas futures could not avoid a technical reversal from the lows tested this week despite the odds of demand and supply mismatch.

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 in the world.

Latest comments

lol hope he have disappeared
pls dont come for bullish commentary, let ng move up
do you have sense where it's heading. you are saying from 6.5 bullish
mc
why you are making loss to people everytime
its hard earned money, dont do fraud with people
fraud
he must have done suicide from shame.....!
i think investing app should blockbyou
you have guts , posting analysis after everytime wrong
its difficult to tolerate
yep new low indeed lol
again new low
lol, wrong every fkn time. this guy has no shame lol
hats off, ng again going down
sir, please this time no new low
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.