Natural Gas: Bears Seems Ready To Cover Their Shorts
Satendra Singh | Aug 03, 2017 07:36AM ET
On analysis of the movement of Natural Gas futures price on August 3rd, 2017 at 07:10:00 in the same chart in 4 Hr. zone, which I have already discussed in my last two analyses, I find the movement of Natural Gas futures price are evident enough to result in eruption of a short covering rally on impending inventory announcement due to the thick presence of Bears who have created more and more shorts in an oversold zone in hope of expectation of cool weather and announcement of more injection today. Although, we are at the distance of just three hours from the impending inventory announcement, which seems to be more or less same as it was last week. The quantum of hopes of Bears now has crossed the level of expectation of more than expected injection of Natural Gas this time.
Movement of Natural Gas futures price in my expected trading zone is well on its path till now and enhances my confidence for its way ahead.
I advice my all readers that this is not a trading advice.Be very careful amid growing volatilty ahead.
Have a Nice Trading Time.
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