Natural Gas

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ORIGINAL UPDATE TO SUBSCRIBERS   - 20th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 23rd Jan 2021

[Natural Gas February Futures Update] In our previous update, we had articulated that NG needed to surpass the resistance at 2.710-2.730 at the very least if it was serious about resurrecting the micro-level bullish setup.  While NG came very close to probing this level yesterday, it failed to take out the resistance zone and reversed sharply from it. When price action fails near a resistance, the immediate key support is often exposed/vulnerable.

 

After breaking the nearest support, NG is now approaching a larger degree key support at 2.390-2.420. Any bounce here will need to rally above the key resistance at 2.710-2.730 to be considered meaningful.

ORIGINAL UPDATE TO SUBSCRIBERS   - 18th Jan 2021 

POSTED HERE TO NON-SUBSCRIBERS - 21st Jan 2021

[Natural Gas February Futures Update] The weekend weather model runs are bearish. 

Technically, NG has bounced off the key support at 2.640-2.660 last week. The immediate key resistance continues to remain at 2.900-2.910 as shared in the previous update (tagged).

We will share more thoughts on the price action once the markets open & volumes pick up.

ORIGINAL UPDATE TO SUBSCRIBERS   - 12th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 18th Jan 2021

[Natural Gas February Futures Update] In our previous update (tagged), we had mentioned that NG shall have another go at the key resistance at 2.780-2.800 if it is able to operate "preferably" above the local support at 2.580-2.610.  NG kissed the support earlier today, bounced off it, and is currently testing the immediate resistance. A sustained break of this resistance shall expose the next key resistance at 2.840-2.870 followed by 2.970-2.985. The key support continues to remain at 2.520-2.550.

 

ORIGINAL UPDATE TO SUBSCRIBERS   - 08th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 10th Jan 2021

[Natural Gas February Futures Update] NG attempted to probe the key resistance at 2.780-2.800 yesterday and then receded from it. 

NG has the license to have another go at the resistance as long as it operates above the newly formed key support at 2.520-2.550 and preferably above the local support at 2.595-2.605. Only a break of the immediate resistance shall expose the next key resistance at 2.840-2.870 followed by 2.970-2.985.

NG storage report is due later today. So, expect volatility to make an appearance shortly.

 

ORIGINAL UPDATE TO SUBSCRIBERS   - 05th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 10th Jan 2021

[Natural Gas February Futures Update] Bullish weekend weather reports facilitated a gap up in NG earlier today. When price action breaks a resistance, it has the propensity to gravitate towards the next. Evidently, NG reached the key resistance at 2.650-2.675 and then pulled back for it. While the bounce off the key support at 2.240-2.260 may look promising at a micro-level, NG will need to do more to begin building a bullish case at the macro-level. At the very least, NG shall have to surpass the key resistance at 2.780-2.800 decisively to consider any larger degree bullish scenarios.

ORIGINAL UPDATE TO SUBSCRIBERS   - 04th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 10th Jan 2021

[Natural Gas February Futures Update] The long weekend weather models have been bullish. Technically, NG bounced off the key support at 2.240-2.260 and has reached the key resistance at 2.510-2.550 shared in the previous update. Price action meandered around the resistance for several hours last week before market close. The next key resistance is at 2.650-2.675 followed by 2.780-2.800. 

We will share more details on the price action and the potential technical path after markets open and once volumes stabilize.