Natural Gas Seems Ready To Enter In A Higher Trading Zone
Satendra Singh | Apr 28, 2017 12:43PM ET
Natural Gas futures price seems ready to enter into a new higher trading zone, once it closes and stays above $3.388. This is what all the bears feel to be an impossible phenomenon. But, I find it be definite one more ever than before as I have already predicted this reality through different chart patterns for different time zones since February 2017.
I constructed a “Decisive Trading Zone” while writing my analysis on February 11th, 2017. Although, my critics got a chance to criticize this analysis because the levels, I projected in this particular analysis were beyond imaginations on February 11th , 2017. I like to present the scenario of the journey of the natural gas futures price along with the current position just to explain the accuracy of this particular chart pattern in a weekly time zone on April 28th, 2017 at 12:10:00.
On analysis the movement of natural gas on April 28th, 2017 at 12:10:00 in different time zones, constructed by me while writing my last few analysis, I find the natural gas futures price going to enter into a new trading zone where all the forthcoming moves in the days ahead will be more technically prone rather than being prone to weather related announcements.
On analysis the movement of natural gas futures price from historical prospective, I find the reoccurrence of a real phenomenon many times in the past, when the bears are compelled to press the trigger of a strong bounce themselves. Now, when the majority of day traders only talk about creating shorts through different forums and they just start to criticize every analysis which even seems to favor a bullish bias in natural gas.
The same situation occurred on February 29th, 2016 when after a continuous downward move, the thick presence of bears compelled them to press a trigger themselves on March 1st, 2016 and a bounce back rally erupted and continued till June 27th, 2016.
The second time, the same scenario was evident on December 20th, 2016, after a long downward move and the thick presence of Bears compelled them to press the button for a bounce back and an uptrend rally started and continued till December 28th, 2016 and then the same scenario repeated on January 23rd, 2017 when the Bears were hapless to forcibly press the trigger for a bounce back on the same day and an uptrend rally continued till January 26th, 2017.
Finally, I conclude that the natural gas futures price will be seen to trade in a higher trading zone, once it successfully sustain in the mid part of the same “Decisive Trading Zone” what I constructed on February 11th , 2017 in a weekly chart for the year 2017.
Have a Nice Trading Time.
Disclaimer: This analysis is purely based on the observations. I do not have any position in natural gas. One can create position in natural gas at his/her own risk.
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