Natural Gas Bears Have Only One Escape Route Before Advent Of Winter
Satendra Singh | Nov 24, 2017 01:57PM ET
On analysis of the movement of Natural Gas futures price in the same chart pattern which I noted in my last analysis, I find that although,the bears have tried their best to drill a hole in the ground on the last trading session of the Week on November 24th, 2017 but remained unsuccessful.
And, now they have no option after being trapped inside a tight compartment in large numbers, except running upward towards the ventilation hole in the roof for breathing fresh air. I define the expected escaping route for the bears to reach up to the ventilation hole before the advent of winter, and before the heating demand start growing like wild fire. Weekly injections have turned into withdrawals, which are definitely a warning signals for bears to use empty chimney as a good way to come out on the roof, otherwise they would have no choice.
I find a sustainable move above $2.947 on November 27th, 2017 will confirm the Natural Gas bears’ retreating march to adopt the best option for their safe retrieval.
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