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Nat Gas: Should Move Higher

ByJason Sen
Published 11/28/2013, 05:22 AM
Updated 07/09/2023, 06:31 AM

Nat Gas Daily Chart
Natural Gas saw a move towards 3820/17 as predicted but bounced from 3836 to break above 3885 as we close in on Fibonacci resistance at 3930. This should hold a move higher for today and possibly for the week. However, shorts need stops above 3965 as a break higher can then target 4015. If we reach as far as strong resistance at 4023/28 use this as a selling opportunity.

We are very overbought so be on alert for selling pressure and below 3880 is less positive. We meet 100 day moving average support at 3830 which could hold the downside but below here a low for the day is possible at 3805.

Latest comments

Natural gas should move lower that should be the headline. If you have ever skipped a rock across a pond you know that in the end the rock sinks. Natural gas will sink into december.
ever see a kid skip a rock over a pond once the rock skips a couple of times it drops into the water and sinks? that is what natural gas will do into december.
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