On analysis of the movements of Natural Gas Futures, in different time frames, I find that despite an opening of Natural Gas Futures at the same levels on the first trading session of this week, where they closed last week; natural gas bulls look ready to hit their target at $3 before this weekly closing.
I find that the Natural Gas Futures look to be in a consolidation phase to form a launching pad at the level of $2.5 for bulls to start a steep upward move from here.
Natural Gas Futures Daily Chart
Natural Gas Futures 4 Hr. Chart
Natural Gas Futures 1 Hr. Chart
Natural Gas Futures 15 Minutes Chart
Disclaimer: The author of this analysis does not have any position in Natural Gas futures. Readers are advised to take any position at their own risk; as Natural Gas is one of the most liquid commodities of the world.
Natural Gas: Bulls Eye $3
Disclaimer: This analysis is purely based on the technical observations. I do not have any position in Natural Gas. One can create position in Natural Gas at his/her own risk.