ðĨ"Natural gas will increase sharply!"
Natural gas retreats to support after inventory report release yesterday, April 25th
Natural gas prices pulled back to support after the release of the natural gas inventory report yesterday, April 25th. The report showed a higher-than-expected increase in natural gas inventories. According to the data, natural gas in storage rose by 92 billion cubic feet, exceeding analysts' forecasts of 5 billion cubic feet and 42 billion cubic feet higher than the same period last week.
Natural gas prices attempted to break through support but failed. This was evidenced by the selling pressure that repeatedly pushed back prices as they tried to break through the support level.
We recommend buying natural gas at the current price (MKT) and placing a stop-loss order below the price-rejecting Pin Bar candle.
BUY MKT NGEM24
STP: 1.925
TP: 2.181
Natural gas prices pulled back to support after the release of the natural gas inventory report yesterday, April 25th. The report showed a higher-than-expected increase in natural gas inventories. According to the data, natural gas in storage rose by 92 billion cubic feet, exceeding analysts' forecasts of 5 billion cubic feet and 42 billion cubic feet higher than the same period last week.
Natural gas prices attempted to break through support but failed. This was evidenced by the selling pressure that repeatedly pushed back prices as they tried to break through the support level.
We recommend buying natural gas at the current price (MKT) and placing a stop-loss order below the price-rejecting Pin Bar candle.
BUY MKT NGEM24
STP: 1.925
TP: 2.181