NATGASUSD is highly oversold on every single chart except the daily (M30, 1H, 2H, 4H). On the daily chart , while not oversold, we have reached the RSI support line we have held since August 2019 (3 mo.). This line can easily be broken, but it is here where I am taking a position with a tight stop loss.

Price bounced from the 2.26 (0.236) fibb level, and will normally reach 0.50 fibb (2.37-2.40) before next big move.

Another option - is that it is setting up a much larger bearish head and shoulders pattern, which is a common pattern as I have noticed and mentioned in previous analyses.

Winter storms are still to come, even though this winter is predicted to be lighter than most. I think reaction was very strong in the past daily sell off, and should rebound to at least 2.37-2.40.

Dec 03
Trade closed: target reached: 2.37-2.40 Target reached, closed.
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