Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Nat Gas/Lee *PIC*

For a another view of what's been going on with NG here is a continuous contract that shows the 2 year uptrendline price is presently sitting on giving significance to this price point. More recently with the Daily charts watched you can see price in the channel it has been in over the last year. With the long term downtrendline and long term uptrendline converging you can see the loss of volatility and momentum. Price has now reached a tight pattern with little movement. This is why with so many trading NG at this level they are mainly intraday traders just scalping as that's all it has been good for unlike the heady days gone by. So price must still hold this 2 year uptrendline it is presently sitting on and for anything worth trading price must clear the short downtrendline for a bounce. Even that would only suggest a rally to 4.50 to 4.75. Pretty tough to trade a long term bear that has gone into hibernation unless just scalping what you can. Best to wait at least until that short downtrendline is cleared for a short term trade to resistance levels. Just thought this longer term chart would put things into perspective. But price is still a bear in all respects and 'if' price breaks below about 3.70 next support would be the Oct/10 low of 3.25. So this price is also important long term as well as within its short term channel bottom!