Did Natural Gas Just Bottom Out ?

18 Dec in Blog, commodity consulting, commodity trading, crude oil futures, futures trading, heating oil futures, natural gas futures, option trading, seeryfutures, unleaded gasoline futures

Natural Gas Futures--- Natural gas in the January contract was sharply higher this Monday afternoon in New York up 13 points at 2.74 as I have been writing about this commodity for some time as prices hit the 2.60 level which did occur in Friday's trade, however I'm still not involved in a bullish position as I'm still not sure prices have bottomed out at this time.

Natural gas prices are still trading far below their 20 and 100 day moving average as this is the 3rd Monday that we have traded higher and then prices seem to decline for the rest of the week as it will be interesting to see what tomorrow's trade brings as there is a possibility that a spike bottom may have occurred.

Weather conditions in the state of Illinois and much of the Midwestern part of the United States is very warm once again today as natural gas prices are oversold as I think today was just a kickback as I think were in the midst of a bottoming out process as I would like to see 5/7 days of sideways trading action therefore confirming a bottom as we enter the highly volatile January and February months.

Natural gas prices dropped over 60 points over the last 3 weeks which was around a 18% selloff, but I will still continue to keep a close eye on a bullish trade in the days ahead & if you have any questions feel free to contact me anytime at 630-408-3325 as I will be more than happy to explain my concept.

TREND: LOWER

CHART STRUCTURE: POOR

VOLATILITY---INCREASING

 

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

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