Natural Gas Signal: Natural Gas Continues to Trade in a Range
Natural gas markets have done very little during the Thursday trading session, while it looks as if we are simply going to see the market hang around and test the 50-Day EMA.All things being equal, the market looks as if it is range bound, and the fact that we are in the midst of the summer suggests that we will probably continue to see a lot of back and forth.
We have been trading between the $3.00 level above and the $2.00 level underneath, and I think that is essentially the “summer range.” I do think that we are in the midst of building up some type of accumulation phase, therefore a short-term pullback makes quite a bit of sense, and I think ultimately we have a situation where the market probably will continue to see plenty of buyers every time it makes a little bit of a dip.
All of this being said, be careful about position sizing, as the markets will continue to see a lot of questions. The natural gas markets are in the midst of a “summer range”, and the market is prone to these times. However, as the EU will have to refill its tanks, there will be a certain amount of buying pressure under current levels.Natural gas has essentially bottomed out at this point, and it is likely to be one of the biggest trades in the second half of 2023.
On a move to $2.50, I will be “scaling into a position”, with the understanding that the market has to build up confidence.Ready to trade
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Authorities: Natural gas likely caused Lisle-area house to explode, but investigation continuesNatural gas likely caused a Lisle-area house to explode Saturday, but exactly how hasn't been determined, fire district officials say.
Read more »
NASDAQ 100 Signal: Continues to See Upwards MomentumThe NASDAQ 100 has gone back and forth during the course of the trading session on Wednesday.
Read more »
Natural Gas Forecast: Markets Show Resilience on IndependencThe natural gas markets experienced a slight rally during Tuesday\u0027s trading session, albeit with limited activity due to Independence Day in the United States.
Read more »
Natural Gas Price Analysis: XNG/USD bears need to break $2.62 for convictionNatural Gas Price Analysis: XNG/USD bears need to break $2.62 for conviction – by anilpanchal7 Gas Energy Commodities Technical Analysis ChartPatterns
Read more »
Natural Gas Futures: Extra retracements in storeCME Group’s flash data for natural gas futures markets noted traders added just 469 contracts to their open interest positions on Wednesday, reaching
Read more »
Natural Gas Price Analysis: XNG/USD stays bearish, $2.53 and US NFP eyedNatural Gas Price Analysis: XNG/USD stays bearish, $2.53 and US NFP eyed – by anilpanchal7 Gas Energy Commodities Technical Analysis ChartPatterns
Read more »