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Natural Gas: Gap-Up Opening Is Bullish

By Satendra SinghCommoditiesJan 16, 2023 04:25AM ET

www.investing.com/analysis/natural-gas-gapup-opening-is-bullish-200634375

Natural Gas: Gap-Up Opening Is Bullish

By Satendra Singh | Jan 16, 2023 04:25AM ET

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Since I wrote my last piece, most traders were shocked by the steep fall in natural gas last Thursday and Friday, as warm weather was the main concern.

Natural Gas Futures 15 Minutes Chart

Natural Gas Futures 15 Minutes Chart

A weekly gap-up opening indicates the entry of big bulls who look confident about the limited downside below Friday’s low.

Since the weekly opening, natural gas' movements indicate a renewed strength among the bulls, who look ready to take command on Monday despite prevailing selling pressure as the weather could take a U-turn from Jan. 24.

In the 15-Minute chart, the prices look ready for a breakout around 06:30 a.m. in today’s trading session if the prices manage to stay above the immediate support at $3.555 till 06:00 a.m.

A sustainable move above the immediate resistance at $3.942 will confirm a breakout.

I believe that the wild price swings could continue as the journey for the bulls will not be easy till the next significant change in weather outlook.

Monday’s move matters, as it indicates the bulls' strength. Small bulls could still be skeptical after a steep fall last week.

Still, every upward move will be seen as a fake breakout, as the upcoming weekly inventory will also be bearish due to the current warm weather in most parts of the U.S. and Europe.

Momentum matters a lot when trading natural gas futures. It could keep the trend upward or downward against all odds.

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 in the world.

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Comments (8)

suresh suresh Jan 17, 2023 12:27PM ET

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totally opposite

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Krishan Tomar Jan 16, 2023 8:18PM ET

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pls tell today up or down opning

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jzut Jan 16, 2023 6:21PM ET

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Nat gas used to be easy to trade. Up in the winter, down in the summer. Not anymore.

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dookie one Jan 16, 2023 5:32PM ET

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you've been Singhed if ur a bull like me

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Nick Smith Jan 16, 2023 12:53PM ET

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Gap up openning is bullish?!! Did you have to go to school for that or is it just natural ability for analitical skills?

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FORTUNE TRADER Jan 16, 2023 10:56AM ET

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without US market, this guy could have just said that, there will be range bound, but he clearly wants to impress Bulls so that he can get his cheque, so he took it with bulls side... don't worry we will be here to see your analysis

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Anvar Malikov Jan 16, 2023 9:16AM ET

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Satendra Singh keep searching, you have a lot of fans 👍👍👍

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Ahmed Medoo Jan 16, 2023 8:14AM ET

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As usual you are bullish but your predictions did not hit the targets yet ... Good luck

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