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Monday, June 21, 2021

Natural Gas: Now Its Bulls’ Turn

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On analysis of the movements of natural gas futures in different time frames, I find that they have formed a bullish crossover in a monthly chart which ensures a long uptrend like 2018. In the weekly chart, futures are in the process of completing a ‘Saucer’ which starts from November 2018 and could complete in November 2021.

A gap-up opening on the first trading session of this week has confirmed the continuity of a bullish trend. Now, the ‘psychological resistance’ that used to be at $3 has turned into a ‘psychological support’. This seems to be evident enough for the advent of a new era in natural gas prices.

Undoubtedly, profit-booking will be seen from time to time but the overall trend has turned bullish up to November 2021. I find that the natural gas bulls could form their new base above $3.110 before moving more upward.

Natural Gas Futures Monthly Chart

Natural Gas Futures Monthly Chart

Natural Gas Futures Weekly Chart

Natural Gas Futures Weekly Chart

Natural Gas Futures Daily Chart

Natural Gas Futures Daily 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: Now Its Bulls’ Turn

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.

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