Natural Gas Resuming Momentum, Before A Seasonal Peak
Satendra Singh | Jun 25, 2021 01:21AM ET
When I recommended a long position in natural gas two months back, many readers were annoyed to go long at $2.614. Some of them even posted abusive comments which I had to take on board before writing another piece of analysis to predict the next directional move of the most unpredictable commodity in the world.
Natural gas futures hit a defined target at $3.434 on June 24 from the lows of $3.334. Yes, it was a $1 move. Perhaps, a big surprise for most of the traders who were not anticipating such a big move. But, I had indicated this in one of my last analysis. Natural gas futures have regained the bullish momentum that could continue during this hurricane season.
Undoubtedly if the natural gas futures close this week above $3.448, bulls could become more aggressive to test the next target at $4.5 during the upcoming week. But, I have decided not to write any more articles here on natural gas!
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