Natural Gas
Updated
Price breaking up back inside to the Fib Triangle( see link on chart )
Price on natural gas has to climb back up through the upper resistance of the Blue triangle so bulls get more chances to square up after the gap we had last Friday sending the price to test the two different resistances above it - green and if breaks through that red line to follow where 50 MA on daily is currently looking at -
Failing to keep price above the down sloping resistance of the triangle will send us down to the parallel resistance bellow it .
Weather forecast as we go towards the end of the week will determine how price will move around these resistance / support lines.
Price on natural gas has to climb back up through the upper resistance of the Blue triangle so bulls get more chances to square up after the gap we had last Friday sending the price to test the two different resistances above it - green and if breaks through that red line to follow where 50 MA on daily is currently looking at -
Failing to keep price above the down sloping resistance of the triangle will send us down to the parallel resistance bellow it .
Weather forecast as we go towards the end of the week will determine how price will move around these resistance / support lines.
Comment
Currently testing that first resistance, we met that moving target at 2.27 ,possibly will retrace back to 2.23 for bulls to charge back to that down slopping resistance, If the bulls succeed next stop the red up sloping resistance line that will stop the price between 2.80 and 2.40
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