Natural Gas: Things Could Get Lively Below $8.2
2022.06.01 09:50
On Tuesday, natural gas could remain bullish despite growing bearish pressure as the current level looks evident enough to attract bulls and trap the bears below $8.878.
Natural Gas Futures 1 Hr. Chart.
Technically in an hourly chart, the natural gas futures show signs of a buying spree below $8.444, ensuring a breakout move on Tuesday and growing volatility.
If the natural gas futures find a sustainable move above $8.777, it would be the first confirmation of an uptrend over the subsequent two trading sessions until the announcement of the weekly inventory on Thursday.
The current scenario looks ripe for taking up a long position at $.8444, with a stop-loss at $8.291 for the target of $9.555. In case of a breakdown below 8.2, nat gas could retest the ‘lunching pad’ before a sharp reversal.
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