This technical analysis was conducted using the Swing•Genie Cycles swing trading indicator on a 2-day chart.
NG is currently in a down trend since a Swing•Genie Cycles 2-day red dot was printed. Due to the sell off today, it's unlikely a 1-day green dot (swing trade warning signal) will print for a few days, which means a 2-day green dot (swing trade entry signal) won't print until next week. An explosive rally to the upside may change these circumstances but fundamentals, both weather and production, are bearish. Support is provided by 50 EMA (red line) and 200 EMA (blue line) which should keep NG within the 2.40 to 2.60 trading range. If support fails, expect NG to fall back within the 2.20 to 2.40 trading range.
NOTE: It typically takes between 1 and 10 days from the time the Swing•Genie Cycles indicator prints a dot on the chart for the trend to demonstrably change. A green dot is a bullish signal, a red dot is a bearish signal. Swing trades using this system typically last 2 to 6 weeks.