GoldBands

Natural Gas Drops Below Upper Bollinger Bands to End 6 Week Rise

Short
NYMEX:NG1!   Natural Gas Futures
On Tuesday, Natural Gas dropped .10 points to close just above the 21 day moving average. This is a potential end to the last move up which began on Feb 22 of this year. If price can break through the 21 day moving average, I would expect price to continue selling off until a tag of the lower Bollinger Band which now sits at 2.9.
The potential downturn is supported by 2 consecutive red Heikin-Ashi candles and the haDelta indicator now turning red.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.