Natural Gas: Levels To Watch Ahead
Satendra Singh | Dec 17, 2017 08:14AM ET
On analysis of the movement of Natural Gas futures price in different chart patterns which I have already noted in my last few analyses, I find the eruption of some positive signals which are evident enough for an uptrend during the upcoming weeks. I find that the current weekly closing at $2.624 after touching the low at $2.582, seems to be an advance signal towards the fact that the Natural Gas futures price has tested the lowest level of the season. Secondly, this price level is evident enough to show the oversold territory of the Natural Gas futures before the weather turning towards more colder season.
I find that the Natural Gas going to test new levels during the upcoming weeks as expectations for growing withdrawal announcements during the upcoming weeks amid changing weather, which has turned to be more cooler before the Christmas. Moreover, after Fukushima, most of the major economies have moved away from nuclear energy. Japan, Germany and France are leading economies who are going to fill this energy gap with natural gas very soon.
Before proceeding for Christmas holidays, I would like to wish you all a Happy Christmas. I find the growing demand for the natural gas amid avoidance of coal use will definitely enhance the glitters of this colorless and odorless gas.
I will be back only when the Natural Gas futures price will cross the level of $3.456. Till then, good bye to all my valuable readers and critics too! Wish you all Happy Christmas and New Year!
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