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TFC Commodity Trading Forum

April Nat Gas/Double Bottom Test *PIC*

April Nat Gas is testing the Jan low of 2.44. A 'close' below 2.44 that holds below would simply confirm the bear market continuing and a breakdown failure of the base building period over the last several weeks. Symmetrical Triangles and other consolidation patterns are 'continuation' patterns with the odds favouring a break in the trend's direction. Base building patterns also look much the same so a breakout over price resistance or breakdown below price support is needed to confirm. Big test right now for NG. So far NG is still going to hell in a handbasket.