Natural Gas Bulls Look Ready To Thrust On Thursday
Satendra Singh | Jul 26, 2018 01:31AM ET
In a news conference following a meeting between the two leaders on Wednesday, U.S. President Donald Trump said he and European Commission President Jean-Claude Juncker had agreed to work to lower industrial tariffs on both sides. Juncker also called a "major concession" Trump's agreement to hold off on car tariffs as the two sides launch negotiations to cut other trade barriers. At the same time, Trump said Europe has agreed to increase purchases of U.S. liquefied natural gas and lower trade barriers to American soybeans. Since the announcement of this decision natural gas bulls look ready to strike on Thursday after the announcement of impending inventory.
On analysis of the movement of Natural Gas Futures in different time frames in the same chart pattern which I noted in my last analysis, I find that the Trump-Juncker collective move to calm down tariff trade war has started to shed its positive reflection over the most of the commodities.
I find that this positive outcome of Wednesday's meeting will encourage natural gas bulls to strike upward on Thursday after the announcement of impending inventory of Natural Gas. I find that growing export of U.S. natural gas to Europe will soon turn weekly injections into withdrawals because this Trump-Juncker move will not only prevail over the weather dependent moves of natural gas futures, but also encourage other countries where natural gas is required in huge quantity to come forward to demolish trade barriers with United States at an earliest point. I find that this Wednesday meet has opened fresh avenues to break trade barriers which were creating hurdles in supply of natural gas at global level.
Let’s have a look at the current position of Natural Gas futures in the same chart which I noted in my last analysis. On analysis of the movement of Natural Gas futures, I find that a sustainable move above the level of $2.867 after the announcement of natural gas impending inventory will confirm the quantum of bulls’ strike. For more updates on natural gas futures, subscribe my YouTube channel .
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