Natural Gas looks to be consolidating the recent bullish leg from the break of $2. Price failed to break $3 and has formed a bullish flag pattern consolidation on the Daily and 4H charts. On the weekly there is a nice rejection of the 38.2% retracement of the previous leg. On the intraday chart we see a nice breakout of the bull pattern. Watching for a retest of $2.650 to hold as support for potential continuation higher to retest $3 level.
Trade active:
We got out retrace back to $2.64-2.65 level which formed a higher low on the daily chart and provided a nice long opportunity, price has now moved in our favour
Comment:
Price has made a higher high on the intraday charts, now looking for a higher low to be made around the $2.700 level before a push to $3 target
Comment:
We got our higher low above $2.700 and now price is stuck in a range between $2.900-$2.700. Watching for the higher lows to continue and price to push back to the $3 mark
Trade closed: stop reached:
Didn't quite get back up to retest $3 before rolling over, stopped out under $2.600