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Re: Natgas Weekly/Haligonian *PIC*

Here is a chart of Sept Nat Gas. Note how price is bumping up against major channel top resistance at 4.90 again. Price would need to clear AND hold above 4.90 to suggest anything more on the upside to speak of. Even then 5.20 resistance is just above that. What would be typical "IF" price is going to breakout is to clear and hold above 4.90 and stay in a tight consolidation range between the breakout pt at 4.90 and 5.20 resistance. I've seen this occur many times right after a base building period and a price breakout. It should actually have a chart pattern name for it. It doesn't draw a lot of attention then as while it does breakout it doesn't do anything for a while as it consolidates its hard fought battle with the channel top and is low on ammo. Interest dries up again and no one believes the small breakout means anything. It does! Then after it consolidates for awhile it reloads its mags and goes up again sharply with some strength and conviction surprising most on the sudden breakout and run up. BUTTTTTTTT 1st things 1st and Sept NG has to put 4.90 behind it to suggest the base has been built and it's time to run up again with strength. Once it clears and holds above 4.90 it would be a good sign that the basebuilding is over and a reversal is in the cards.

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Re: Natgas Weekly/Haligonian *PIC*