Since my last analysis, natural gas took a sudden down move from $2.696. I find that this downward move has encouraged bulls to load their guns at the current levels because they prefer to shoot bears inside this range. The bears tried to infiltrate inside the bull’ territory but I think they will hardly dare to test the “Bears Trapping Zone” ahead. Now, they have only one option left, which is to retreat because they have not been able to break the major support at $2.647, even after struggling since they moved down. And, the bears will be forced to retreat beyond the levels from where they started to move downward.
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