On analysis of the volatile moves of Natural Gas Futures during the week which ended April 20th, 2018, as I mentioned in my last analysis on April 19th, 2018, natural gas futures ended with the formation of a technical bounce of 3.16% on its weekly closing. But, on thorough synthesis of this technical bounce from $2.657 to $2.744, I find that the natural gas futures have reached a crucial point which makes the situation very indecisive for any further movement in price in either direction with steep moves due to the presence of different noises. On one hand, at the start of injection season, we may see more withdrawals due to shifts in weather reports, while on the other hand, formation of exhaustive hammers in a daily chart over the last week creates suspicion about stamina of bulls’ strength.
On analysis of the movement of natural gas futures during the week ended on April 20th, 2018, I expect the following trading zones for price over the Week of April 22nd, 2018.
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