Natural Gas: Cyclical Moves Could Continue To Repeat
Satendra Singh | Mar 28, 2021 02:08AM ET
Natural Gas futures look ready to repeat cyclical moves once more during April, May, and June 2021; they already showed during January, February, and March 2018. I find that the natural gas futures have formed the same formations recently that were visible in a monthly chart in 2018 before testing a new peak.
But this time, the current position of moving averages looks more in favor of bulls as natural gas futures are likely to hold above 9 Days Moving Average in a monthly chart. If natural gas futures find a breakout above $2.741 during the upcoming week, the advent of an uptrend could continue. On the other hand, the immediate support of $2.243 could provide an opportunity to go long.
Finally, I conclude that the overall outlook of natural gas futures could remain in favor of bulls.
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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