Natural Gas At A Decisive Juncture Before Moving Ahead
Satendra Singh | Jan 15, 2019 01:07AM ET
Since my last analysis on the movements of Natural Gas futures in different time frames, I find Natural Gas futures have entered into a ‘Decisive Zone’ and look ready to take a decisive move before advancing ahead. The Natural Gas futures are facing stiff resistance at the weekly resistance level at $3.710 where the bulls look to take a pause to regain their strength after a devastating attack since last two trading sessions. Once they successfully sustain above the level of $3.777, they will move towards the next target at $3.888; which seems to be in their short term range after the formation of Golden Cross in an hourly chart. No doubt, volatility may see a higher pitch during the upcoming sessions, but once they successfully enter into the “Breakout Zone”, the Natural Gas futures may test the levels of $4.444.
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