I have been keeping an eye on natural gas for that past week waiting for it to reach these support levels, the downtrend has been really strong and so far buyers have been weak. I will be going long but monitoring it carefully as the demand has not kicked in yet. If it breaks down we can see some lows we have not seen in a while anywhere around 2.15-30. Take profits if we do see some buyers are around 2.68-2.72 for the short term, given the strong trend down we will see some more sellers around that area.
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buyers are starting to come in.. still monitoring. Moving my stop up
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stopped out at breakeven.. will continue monitoring to go long, although bias could be down to break psychological support.
@dcpypt, theres more to it than weather.. US dollar index plays a role, production, imports and storage. so far buyers are kicking in. we will see how it reacts to the most recent S/R area.
dcpypt
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@atovar10, looks like it was a spot on prediction... should've follow it :(