Natural Gas Outlook For The Week Of June 24th, 2018
Satendra Singh | Jun 24, 2018 03:47AM ET
On analysis of Natural Gas futures during the last few trading sessions, I find Natural Gas were in a consolidation phase just below the immediate resistance at $3. This consolidation phase seems to be over as OPEC has finally announced its decision to raise production by around 1 million barrels per day (bpd) from July. This moderate production hike has already been factored in the current price level of crude prices. Now, once again, Natural Gas turns its focus towards the real demand and supply scenario before the coming summer season when the cooling demand will remain at high pitch all over the world. I find that the tilting trade war scenario will also have an impact on the movement of Natural Gas futures during the upcoming week. The following trading zones for Natural Gas futures will move during the week of June 24th, 2018. To understand the following Charts in detail, see my video .
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