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TheTrex

NATGAS - Retesting lost support

Long
Natural Gas (Spot) (PEPPERSTONE:NATGAS)  
TheTrex Updated   
PEPPERSTONE:NATGAS   Natural Gas (Spot)
Trend Analysis Chart Patterns natgas Natural Gas
14
1
trendanalysis chartpattern natgas naturalgas
Long signal on NATGAS! Bubble collapsed however it will still retest last low of wave (1) which around 3.44~ 4.13.
On intraday there is also a head and shoulders pattern that got invalidated giving some additional significance for strength.
Comment:
NATGAS did not hold the lower support line and now that winter is fading I think it will enter a longer correction. This potentially also signals that RUB will continue to go down versus the euro.
Comment:
With current development which I did not expect I see the price test the low of 1.528 to really capitulate those who bought the NATGAS bubble.
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