Natural Gas: Will The Bears Dare To Test Trapping Zone Once Again?
Satendra Singh | Jul 25, 2017 02:21AM ET
Natural Gas futures price tried to move inside the long term “Bears Trapping Zone” on July 24th, 2017 at 12:00:00 since the announcement that the weather system with powerful thunderstorms and cooling will sweep across the Ohio Valley and Northeast through July 30 to ease national demand, according to updated weather forecasting models, and retreated swiftly after touching the level of $2.866.
Suddenly changing weather announcement creates only havoc among the traders they can never change the weather all of a sudden and nobody knows exactly what the Mother Nature has decided about the weather during the forthcoming day.
Weather Models predict the possible weather conditions during the forthcoming period on the basis of various parameters exactly in the same manner as a Natural Gas futures price Analyst does but an Analyst has no control over the forthcoming sudden changing weather announcement. And finally the readers start blaming the Analysts. Best advice for all the readers is to check all the Analyses but take their decision at their own instead of blaming or using filthy words for the Analysts. I conclude a probable trading zone of Natural Gas futures price from July 25th to July 28th, 2017.
On analysis of the movement of Natural Gas futures price in 4 Hr. Chat, I find that the Bears may be trapped in a long term “Bear Trapping Zone” amid growing volatility before the impending inventory announcement of Natural Gas which may be of a lesser injection this time.
Have a nice trading time.
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