Natural Gas – A Test Before Inventory Announcement
Satendra Singh | May 24, 2017 04:35AM ET
Natural Gas futures price seems to be ready for a test before the impending inventory announcement on May 25th, 2017. On analysis of the movement of natural gas futures price in different chart patterns for different time zones on May 24th, 2017 at 00:45:00, I find the natural gas futures price movement since the gap up opening on the first trading session for the week of May 22nd, 2017 presents a rosy consolidating picture. I find this rosy picture good for a start up from the current level but I prefer to be little suspicious here because direction of the further moves in short term becomes indecisive during such phase. No doubt, the natural gas futures price is still eager to maintain its uptrend voyage in the days ahead but it seems more eager to fill the gap created on the first trading session of the week which has to be filled up first before marching ahead on an uptrend voyage.
On analysis of the natural gas futures price in the same 4 Hr. chart which has been published along with my last analysis on May 19th , 2017 “Natural Gas: Bulls Seem To Drive The Cart Ahead” https://www.investing.com/analysis/natural-gas---bulls-seem-to-drive-the-cart-ahead-200190302 .
I find the natural gas futures price to move well in my Expected Propositional Trading Zone for the week of May 22nd, 2017. Amid growing volatility of a day before the announcement of impending inventory, I find a good Bouncing Zone in 4 Hr. time zone in the same chart in case of any sharp downward move before the inventory announcement. I find every down move will provide a fresh buying opportunity to bulls because the main focus of the traders have shifted particularly towards lower production and rising exports.
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