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.
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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: www.linkedin.com/in/darrenchu
YouTube: www.youtube.com/chan...1YG-qzDMWg6hzYd8D8kw
Google+: google.com/+Tradablepatternscom
Email: info@tradablepatterns.com