Natural Gas Futures could continue to see big and volatile moves during the upcoming week.
There is no doubt that the Hurricane Laura spared key energy infrastructure from major damage, muting its impact on global energy markets, but this may lead to huge volatile moves in Natural Gas Futures during the week of August 31st, 2020 since the focus of the Natural Gas trader could turn to the demand and supply side.
Natural Gas traders will likely focus on the recovery in global energy demand, which continues to show signs of stalling. This comes amid virus flare-ups in Europe and Asia which threaten to derail the recovery in demand growth.
Natural Gas Futures settled at $2.655 on Friday after testing the highs of $2.743. Natural Gas Futures look ready to test the level of $2 before heading towards the level of $3 during the upcoming week.
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 Futures Could Head Towards $3 This Week
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.