Natural Gas (NG) completes the trading week at 3.46. Natural Gas is traded above the moving average with a period of 55, indicating a bullish trend for Natural Gas prices. At the moment, natural gas quotes test the upper boundary of the bands of the Bollinger Bands indicator. The test of the average Bollinger Bands band boundary near the level of 3.30 is expected, from which it is expected to try to continue the growth of natural gas quotations and further development of the bullish trend with the first target near the level of 3.70.
Natural Gas forecast for the week May 15 — 19, 2017
The conservative Natural Gas buy area is located near the lower border of the Bollinger Bands indicator at the level of 3.10. The abolition of the continuation of natural gas price growth will be the breakdown of the moving average region with a period of 55, as well as the lower boundary of the Bollinger Bands indicator bars and the closing of the Natural Gas quotes below the 3.00 area, which indicates a change in the bullish trend in favor of the downward trend on the Natural Gas (NG). In the event of a breakdown of the upper boundary of the Bollinger Bands indicator strips, it is expected to accelerate the growth of Natural Gas quotations to an area above the level of 3.70.