Natural Gas has been on a strong sell sequence since the rejection on the 2.700 Resistance. 1D may be bearish still (RSI = 39.610, MACD = -0.081, ADX = 41.622, Highs/Lows = 0.0110) but we are on the 2.100 - 2.035 1W Support Zone. This is the first bullish sign with the second being the flat RSI (bullish divergence) since November 29th. We are expecting Natural Gas to reverse towards the 2.500 and 2.700 Symmetrical Resistance levels. If however the 1W Support breaks, a new selling sequence may be initiated towards 1.600 - 1.440.
Jeepers. Are you still seeing 1.6-1.4 on this one? 1W support has broke
InvestingScope
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@shadow_broker, That is correct. It has transitioned to the long term pattern:
shadow_broker
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@InvestingScope, thanks for the quick reply. Let’s hope the hammer forming on the 1d will allow some retrace to former support before we get to the mid 1s. Cheers