Natural Gas: Last Stretch Of Winter
Satendra Singh | Mar 16, 2021 10:06AM ET
Movements of natural gas futures in different time frames on Mar. 16, 2021 make it evident enough for natural gas futures to take an upward move from the oversold territory while the last stretch of winter is still pending to show its strength on the weather conditions. Perhaps a sudden turn in weather conditions could turn the whole situation in favor of natural gas bulls.
I find that the bulls look ready to enter skippingly at this point with the upcoming forceful impact of the last stretch of wither shortly. Let us check this entry point and the targets for bulls; trying to accumulate longs at this point. Upcoming inventory announcement could also be supportive for bulls during this week.
I find that the formations amid an uptrend channel since June 2020 look evident enough for an eruptive move in natural gas futures from this point that could enforce bulls to test the level of $3 during this last stretch of winters.
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