Natural Gas - Buying opportunity

Buying opportunity has been seen in Natural Gas. As I posted in my previous post that Natural Gas may find support near the 2.400 level and it touched 2.390 and from there today an upward move is evolving slowly. I expect that NG has found support and a short-term bottom and will reverse from the level 2.390 which it has made in yesterday's trading hours. Now the immediate stop-loss should be 2.35 and a buy position can be initiated on any small dip. 

See my previous post in which I suggested that Natural Gas can find support near 2.400 and long term chart is still bullish - Click to see

If NG inventory comes bullish on coming inventory day then the price may rally soon and again will try to catch the recent high above $3.

In the below daily-chart, RSI has reached near 33 and indicating an oversold region. Bollinger-Band is continuously touching the lower band and suggesting a reversal. This week, reversal is likely to happen so this week may set a trend for Natural Gas. Keep an eye on the price movement of Natural Gas and be ready to catch it on any dip with SL below the recent low of 2.390. 

Disclaimer: The author of this post does not have any position in Natural Gas futures. Readers are advised to take any position at their own risk; as Natural Gas is a highly volatile and most liquid commodity. Any loss/profit made on the basis of the above analysis will be unclaimed.