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TFC Commodity Trading Forum

Jan Nat Gas/ 6 day channel *PIC*

Jan Nat Gas is in a 6 day channel price has been trading in between 3.46 and 3.61. This has formed after recently making new contract lows. Price has to breakout or breakdown out of this tight channel to suggest next short term direction. Breaking below the bottom of the channel at 3.46 would be more new contract lows. Breaking above 3.61 may see price run up to its downtrendline at 3.80. Nothing much to jump up and down about regardless. If it looks like a bear and walks like a bear and acts like a bear it is probably a bear. Any chart that travels from the upper left to lower right and makes new contract lows consistently fits into this category. Nat Gas has been doing this since July 2008. There are better fish to fry.

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Jan Nat Gas/ 6 day channel *PIC*
Re: Jan Nat Gas/ 6 day channel