I was asked to share my thoughts on nat .gas :)
on a daily the market has reached a key level of support:
conjunction of horizontal support with a falling trendline of a broken channel and rsi divergence.
I think that buyers will push the market to higher levels.
Key levels of resistance are:
As you know NG made a strong move up from its support levels which should be countered by a down move pretty soon.
Historically, it may even be forming this triangle we can see on the chart, allowing it for another move down near the 2,55 zone.
That being said, I think 3,324 can be a safe zone for shorting (with reasonable exposure of course) and we...
Instrument at a crossing point between the Fibonacci levels taken on the Daily and the trendlines taken on the weekly.
If we zoom in and watch at the chart...
I would wait a bounce on the Blue trendline to confirm a more aggressive uptrend, or a bounce on the (lower) Red line to confirm a smoother weekly uptrend
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
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