Natural Gas (NG) Breaking Above Descending Wedge Resistance

2015年2月12日

Natural Gas is breaking above a descending triangle resistance line on the weekly chart, and together with the bottoming RSI, Stochastics and MACD, appears to have a decent chance at targeting downchannel resistance around 3.5 in the next few months. The 2.5 level reached last week is not only a round psychologically important key figure but also acted as a pivot point several times in 2012. The current weekly green candle is bullishly occupying a price zone above last week's candle's body, and together with the prior red candle, hint to a strong reversal.

For my multiple timeframe analysis on Natural Gas, feel free to visit: tradablepatterns.com/tag/ng_f/

Website: tradablepatterns.com
FB: facebook.com/tradablepatterns
Stocktwits: stocktwits.com/TradablePatterns
Twitter: twitter.com/chu_darren
Linkedin: linkedin.com/in/darrenchu
YouTube: youtube.com/channel/UCCI1YG-qzDMWg6hzYd8D8kw
Google+: google.com/+Tradablepatternscom

Email: [e-mail]