InvestingScope

Natural Gas: Sell opportunity within the Megaphone.

Short
CURRENCYCOM:NATURALGAS   Natural Gas
NG hit today the Higher High trend-line of the Megaphone pattern that it has been trading in since the start of the year (1D RSI = 69.350, MACD = 0.105, ADX = 33.132). The 1D MACD has entered its 1 year Sell Zone. We are taking this as a strong Sell Opportunity at least towards the 0.618 Fibonacci retracement level, which at the moment is at 1.846. This idea is invalidated if today's High breaks, which will in turn break the Megaphone.




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