On analysis of the Natural Gas Futures in different time frames, they have been maintaining an uptrend over the past few weeks. They may be heading towards a big bounce from the current levels given the current weather patterns.
According to AccuWeather reports, a major storm system, that has already dumped more than a foot of snow across the interior Northeast, will continue to create difficult travel conditions over a large part of the northeastern United States, including some major cities into Monday.
I find that the Natural Gas futures may definitely create a gap-up on the first trading session of the upcoming week of Dec. 8th, 2019.
The oversupply issue in Natural Gas is still intact, but the sudden change in weather patterns creates jerking moves in Natural Gas futures.
Amid growing volatility in Natural Gas futures price, there is a need to conduct a study to find the opening levels of Natural Gas futures, especially on the first trading session of the week; during such kind of cyclical changes in weather patterns. I find the storm from the Midwest has transferred some energy eastward into an intensifying coastal storm and may continue to push Natural Gas futures towards $3 during the month of December 2019.
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