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TFC Commodity Trading Forum

Oct Nat Gas/Testing Resistance *PIC*

Oct Nat Gas tested its downtrendline and price resistance of 4.15 this morning and backed off again. Price needs to clear this resistance area and downtrendline to suggest anything more on the upside and change even the short term condition to bullish. The new contract lows seen Tuesday did see positive divergences on most oscillators suggesting some internal strength and non confirmation of new lows. Bottom line: Price is king and must clear 4.15 to suggest anything positive.