NATGASUSD
Double top testing green fib chamber rejected and dropping to bottom of yellow fib chamber. While 2.5 or below is possible it looks as though a double bottom may form at around 2.583 or so matching up with the price in February.
Looking for confirmation of a bounce before riding AMEX:UGAZ all the way back up to an almost guaranteed 3.0 or so.
Be careful and take extra caution when trying to catch a falling knife. Look for confirmation of a double bottom and miss a little profit rather than miss the trend entirely and get cut.
Tentative long if we bounce here. If there is no bounce we may be seeing just the start of a natural gas bear run.
