The Natural Gas industry continued over so little during the period of the trading session on Monday July 5, 2021. The long Independence Day holiday weekend for the U.S. passed into the Monday session, so size of session would be short. On that background, the market prolongs to appear much extended, so at minimum we are going to witness a little consolidation, but it is important to note that the market has lately broken out to the upside, clearing the USD3.40 mark. If the measured stance from the consolidation area is taken into consideration, it is possible for the market to go as high as USD4.40 above.
It is important to kept in mind that most of this is propelled by the generally commodity move, that obviously has been very optimistic. On that contrary, the industry is obviously highly prone to massive selloff because of the reality that the industry entities are overextended, and of course the truth that the heat wave has collapsed a bit could rely upon that. Yet, the nation still has hurricane issues/ tropical storm, to weigh in.
All things been equal, it is still the industry which is unusually oversupplied for a longer-term viewpoint, so according to the sources the increase will be met by enormous promotion sooner or later that would shift just as rapidly. On that issue, if and when the market finally reaches a break down point, it is anticipated that the prices could fall down to USD2.75 level in order to seal that gap which has still to be tested. Due to this, the market is bullish for a short-term, but is likely to provide lucrative opportunities in future.