Natural gas has been selling off since the beginning of the year. With the EIA inventory cut due to the Atlantic Hurricane threat, we are likely to see a surge on prices. In fact, the energy commodity is still consolidating on a tight 0.130$ per unit range while being bullish.
Possible targets:@2.500 (+40 pips or 0.04$ per m3) and @2.600 (+140 pips or 0.14$ per m3) or 2.265 (+100 pips or 0.10$ per m3) if we break downside @2.370 level.
Advice: Stay bullish and buy at any low point while we don't break the @2.370 bottom level.
Trade closed: target reached
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@2.500 level was reached preceding a rotation due to the fact that the security is still inside a consolidation range. We will wait for a breakout to open any new position.
Comment
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The security broke the consolidation range downward, heading to the support zone.