Natural Gas - Price ready to explode?
Natural Gas prices have been so low (12 year lows) that many drilling operations have been suspended at a time where much of the United States heavy industry is moving toward converting their energy needs to gas based.
Many analysts have been scratching their heads at the lack of upside in gas prices given that so many conversions to gas are on-going.
Scratch heads no more, natural gas prices look ready to explode (pun intended).
Here is a 10 year chart of weekly Nat Gas. The potential for vastly higher prices is obvious.
A closer look at the recent price action is enlightening. A series of higher weekly lows, a doji rejection of lower levels 5 weeks ago followed by a bullish engulfing week 2 weeks later then the sharp jump on Monday. The charts are crammed with bullish signals.
Feel free to call in for further details on trading this commodity.