Natural Gas has been pulling back for last few months. It has hit double bottom today at 5.325 and I would expect some technical bounce of that level. Overall trend for NG is bearish, I expect it to next level major support 4.92 and 4.5 in next few weeks or months.
Trade closed: target reached:
First target 4.92 reached today.. its a good support level might bounce a bit before retesting yellow up sloping trendline and 4.5
Comment:
I expect NG to go up and gap fill at 6.45 and then pull back to test 4.5 levels.
Trade closed: target reached:
Target $4.5 reached today.