NATURAL GAS testing the 1D MA50 support.

It has been almost 1.5 month since we last updated our Natural Gas (NG) thesis:


As you see the symmetry within this long-term Bullish Megaphone worked perfectly and our sell hit the 1D MA200 (orange trend-line) - 1D MA300 (green trend-line) Support Zone and rebounded. If you took that last buy and you haven't booked profits already, it may be a good time to do so if the current Support on the 1D MA50 (blue trend-line) breaks. The reason is the Double Top formation created on the July 26 rejection. If the 1D MA50 breaks, target again the 1D MA200 at least. This long-term pattern has been very consistent and there seems to be no reason to change that until it breaks either direction.


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