NGX2014 Commodities Futures Chart

NATURAL GAS FUTURES

 

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LEONES LEONES PRO NGX2014, D, Short , 2 years ago
NGX2014: NATAGAS breakout (daily chart)
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NGX2014, D Short
NATAGAS breakout (daily chart)

Downtrend started in June 2014 followed by range trade from August to October 2014. Twice failed breakout to the upside: the 2nd one on the 01 Oct 2014 more significant proving that the trend is bear (below the 1x1 Gann line). This morning (16 Oct 2014), after the usual weekly inventory report, we had a final move below 3.80 support level.

LEONES LEONES PRO NGX2014, D, 2 years ago
NGX2014: NATGAS bear trend continues (cancelled)
57 0 1
NGX2014, D
NATGAS bear trend continues (cancelled)

Trade cancelled - this pattern is not convincing enough!

LEONES LEONES PRO NGX2014, D, Short , 2 years ago
NGX2014: NATGAS bear trend continues
58 0 0
NGX2014, D Short
NATGAS bear trend continues

After a pause in August and September 2014, the bear trend seems resuming at this point. Failed breaskout to the upside today (1st Oct 14). The bear 1/1 Gann line has proven resitance. Market is poised to move lower towards 3.500.

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