Natural Gas (NG) opened today below the bottom (Higher Lows trend-line) of the long-term Bullish Megaphone pattern and that is of course the strongest indication that the market has turned bearish long-term. The first sign was breaking and closing below the 1D MA100 (green trend-line), which hasn't been done since June 14.
The safest course of action would be to...
Pattern: Channel Up on 1D.
Signal: Buy on the 0.500 Fibonacci retracement level.
Target: 3.350 (just below the Resistance).
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