As we know, NATGAS is a beast with it's own mind and often technicals fail to support it's move, but here's one anyway!
As you can see there's a descending flag that has been accumulating and I've used a fib extension to determine it's next target.
It's severely oversold on the hourly and the 4hr charts, due to I'm sure the profit ejections from the previous run.
The most recent reports aren't that bearish IMO and I can see this easily taking flight again soon.
As you can see there's a descending flag that has been accumulating and I've used a fib extension to determine it's next target.
It's severely oversold on the hourly and the 4hr charts, due to I'm sure the profit ejections from the previous run.
The most recent reports aren't that bearish IMO and I can see this easily taking flight again soon.
Trade active:
The pitchfork support is acting very well. A lot of buyers seem to be in place @ 4.00 area and with the cold weather still sweeping the most populated areas in the US I will probably top up on my trade.
