Natural Gas: Storm Hitting Carolinas; Confirms Beginning Of Bullish Moves
Satendra Singh | Dec 09, 2018 01:38AM ET
Natural Gas futures look to be more volatile with eruption of a winter storm which brought snowfall and freezing rain to North and South Carolina on Saturday, creating hazardous conditions on roads and threatening to leave hundreds of thousands of people without power during the days ahead. No doubt that the Natural Gas futures will start the upcoming week with a big gap-up in the range above $4.685.
This storm will result in power outages and could last for days in North Carolina, with the state's mountainous western region expected to be particularly hard hit by snow. North Carolina Governor Roy Cooper, who declared a state of emergency on Friday, told residents to finish stockpiling food and avoid unnecessary travel. I find that the Natural Gas futures may turn towards high volatility, but directional moves may remain above $5. On analysis of the movements of Natural Gas futures, I’ve found the following trading zones for the week of December 9th, 2018.
Disclaimer: This analysis is only for educational purpose. Readers are requested to kindly consider their own view first, before taking any position.
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