Natural Gas: No Looking Back, While Next Target Is At $3
Satendra Singh | Nov 17, 2019 09:31AM ET
On analysis of the movements of Natural Gas, in different time frames, I find that a gap-up opening on the first trading session of the upcoming week above the level of $2.788 will confirm the continuity of an uptrend voyage; which has next stop for bulls at $3. No doubt that the Natural gas futures have attained enough strength to test the levels of $2.948 within first two trading sessions amid growing volatility, but a sustainable move above the level of $2.948 will keep the trend in favor of bulls.
Finally, I conclude that the formation of "Golden Cross" in a daily chart looks evident enough for a breakout move during the upcoming week; which may provide a sufficient base for the next peak of Natural Gas during this season.
Watch my video on Natural Gas below.
Disclaimer
1. This content is for information and educational purposes only and should not be considered as an investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.
2. Remember, YOU push the buy button and the sell button. Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from an investment and/or tax professional before making any investment decisions. Any material in this article should be considered general information, and not relied on as a formal investment recommendation.
h2 Natural Gas: No Looking Back, While Next Target Is At $3/h2
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.