Natural gas 1.24% play. Personal target given. Process your way. Would not be surprised to see a small pullback perhaps to breakout line as it is very short term oversold.
Fundamentally, Oil is severely oversold and price is pointing to a rebound. Technically, COG had a perfect AB=CD correction that also lined up with a huge supply level at $15. We then put in a double bottom. The next major resistance area I see that we should certainly hit is $27.
This is one of the cleanest H&S patterns I've seen in some time.
Price is currently above the neckline which puts my systematic trading approach in the Long camp up until COG is beheaded.
Target price for either scenario, Long/Short of the H&S pattern is shown by the colored boxes to the right of the last close. The Short side has additional support show by...
nice break of resistence trendline and at 35$ area today.
sign of revesal. in the monthly chart we can see a hammer on november an price starting to change diraction.
targets on chart. red lines resistence green line support .
GL
