NATGAS after it's rally reached it's 1)200EMA,20)it's mid-term channel boundaries and 3)61,8 FIB level has bounced back to 3,030 level. Weather forecasts can't give more fuel to this rally due to the time of the season. Big contracts have already signed this period that could help the price of NATGAS brea 3.100-3.200 levels. Top is near that's why i am going short.Targets are up to your risk tolerance.. First target 2.975 area 30MA support and topical ressistance and second target at 2.885 area fib and support level and last 2.800 strong support... Happy trading guys..!
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NATAGAS has to close above 3.045 daily to turn it's trend up and weekly above 3.100...
@As_Is_Here ... Ive been holding Short... is it ever going to happen ;o/
The_Greek_Trader
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@gaptraderhq, I believe it will.First target reached.We have some support on the invetory news tommorrow but i don't think they can reverse the current trendline which is down this time of the season and with that weather forecasts.Plus if you see a head and shoulders created.Patience and we will see.
gaptraderhq
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@As_Is_Here, Yeah i guess its a matter of waiting... just seems to be in a zone at the moment as far as movement goes. Really needs to break High or Low out of these ranges... I thinking a nice Gap up on Monday... wait & see.