Natural Gas: Buy Dips Above $2.888
Satendra Singh | Nov 01, 2020 08:42AM ET
Natural Gas Futures look ready to repeat the moves of November 2018 during the upcoming week; as the strength maintained during the last week of October 2020 resembles the movements of Naural Gas futures during the last week of October 2018.
Despite the bullish sentiment, natural gas futures could make a downward move due to growing volatility during this season. I find that the fresh long position could be created above the level of $2.888; as buying on dips seems to be a good strategy at this crucial juncture.
Natural Gas futures could test the level of $4.124 if they sustain above the level of $3.288 during the first two trading sessions of the upcoming week.
Disclaimer: The author of this analysis does not have any position in Natural Gas futures. Readers are advised to take any position at their own risk; as Natural Gas is one of the most liquid commodities of the world.
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