EvanJones
Short

Bearish Wedge formation

FX:NGAS   Natural Gas (Henry Hub)
83 2 2
NGAS has taken a nice correction recently, which is expected given the momentum with its move south.

A wedge has began to form with some volatility in recent days forming this pattern. Given we have divergence on the RSI and the overall direction is bearish , I'm expecting some oscillation within the triangle and then a break to the south.

This is also backed by the seasonal change of Spring/Summer here in the northern hemisphere.

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Hi Evan, Update please? Seem to have broken out of your wedge to the upside
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EvanJones LachlanGorman
It looks as if it could be a false breakout and therefore may resume the wedge patter but with the upper trendline adjusted to show new resistance. The RSI is diverging which indicates price is about to head south. The release figures later today should give NGAS some direction

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