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TFC Commodity Trading Forum

Jan Nat Gas/Ronbo *PIC*

Hey Ronbo. As sick as Nat Gas is with its long and short downtrend don't throw in the towel just yet if long. Price has not clearly broken the 3.46 channel bottom support yet. In fact today price had a Reversal bar after dropping below support and closing up on the day at its highs! Now I don't want you to get too exited and expect to see the moon anytime soon but all I can tell you is what the chart is telling me. And the chart has not broken the recent channel bottom suppport yet and just had a reversal bar with a high close and is bullish ultra short term. Until price closes and HOLDS below 3.46 you have a shot at a rally of some magnitude. The 20ema that price likes to poke now and again is at 3.62 and the downtrendline is at 3.72. And if that was cleared it might spark a short covering rally with all those complacent bears covering in surprise. Then there would be the 1st price resistance at 3.87 which despite a weak rally would catch a lot of attention. Seasonal trend charts are still strong in this time frame over 20 to 30 years of history as well regardless of what's presently occurring. That would also spook the shorts into covering on a rally. Also even a weak Fib 38.2% rally which is typical in bear markets could see Nat Gas rally to the 4.25 area. So don't give up and run until you see the whites of their eyes,lol. Then run like hell!!!!!!!!!!!

Messages In This Thread

Jan Nat Gas/Ronbo *PIC*
Re: Jan Nat Gas/Ronbo/Trades