On September 15, 2021, in a series of weather news, it tested a seven-year high of 5.644I. .
The next day, September 16, the bulls did not want to give up easily, as everything was in their favor to continue the psychological resistance that had now turned into psychological support. He tried again and again for $ 5,594. However, the natural gas bulls seemed to be exhausted on Friday with no new support news and eventually began to fall as fast as 5,392 from the day, which turned into a quick resistance of more than $ 5.
Undoubtedly, natural gas futures are far more valuable than usual for this time of year, and as a result it seems to be returning to normal, given enough time, but we must be careful at this time, because we generally have a hurricane from June 1 to November 30. We are only a month away from the end of the wind season.
The $ 5.00 level attracts a lot of attention as the 4.50 level is perfectly flat in the market. Rest down, and the market is broken. All things being equal, this is a market that is struggling to rise above this, and even though it is out of this line, long-term traders are focusing more on that topic than on reality. .
At the time of writing, Tropical Hurricane Audit said in a recent announcement that the National Hurricane Center (NHC) was operating off the coast of the United States. Odete is located 325 miles (525 km) southwest of Nantukuket, Massachusetts, and has a Miami-based weather forecast for 40 miles per hour (65 km / h).
Strength is forecast over the next two days, and Audit is expected to have a strong post-tropical low on Saturday afternoon.
Restoration of natural gas debris is in its final stages, and some have begun production. Second, a series of weekly injections seem to be sufficient to increase the pressure on natural gas prices.
Technically, the creation of a “tedious weekly candle” seems to be enough to boost sales in the coming weeks. If natural gas futures start the week with a downward spiral, the volatility will continue to fluctuate in the coming weeks.
In my previous analysis I mentioned the possibility of repeating 2018 activities,‘ When natural gas first explodes in June 2021. Again, the same dynamics that are challenging the 2018 highest level are happening now, which could continue in the future. Natural gas futures were estimated at $ 0.658 in November 2018. In the second week of the $ 5,934 test, they could see $ 4.986 last week after a seven-year high of $ 7.644.
Next week, natural gas, which repeats the volatility in the second week of November 2018, could forecast the future – $ 4,866 to $ 4,126 – which could be repeated in the fourth week of September 2021. The current situation seems to be alarming for natural gas. Price level ahead of final direction next week.
Disclaimer The author of this analysis has no say in the future of natural gas. Readers are advised to take any risk at their own risk; Because natural gas is one of the most liquid fuels in the world.