Natural_Gas_Trader

Natural Gas Daily Cycle Neutral and Bearish Targets

NYMEX:NG1!   Natural Gas Futures
Since natural gas has made new lows and continued the downtrend it is likely price actual is down or possibly sideways for the remainder of summer.
Will be watching price action structure over the next few days.
Due to current fundamentals $1.30 may be on the high side for bearish price action. It would be very possible for price to declined substantially if fundamentals deteriorate further.

Comments

Do you think that the bullish scenario is now more likely or could it still be a fake break out? many thanks
Reply
@MartinX, Hi, it could go either way at this point. Potential bull flag on the daily below resistance but also looking a exhausted. Fundamentals are still mixed but the heat is helping substantially. I still favor a seasonal low in August but that is normal nothing is normal right now.
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