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TFC Commodity Trading Forum

Sept Nat Gas/ Looking Better *PIC*

Sept Nat Gas poked its nose above resistance and got smacked back down again. But a lot of resistance was eaten up with that rally. See price come back now after a mild dip and poke its nose in the same area again without much reaction. All that NG has to do is clear AND stay above 2.91 and consolidate between there and 3.15 resistance to suggest a breakout on the upside is highly likely. So far price tested the 2.22 double bottom successfully and is now chewing its way through the double top at 2.91. A breakout higher is far more likely now than before. The safer conservative technical way to trade this is wait for price to prove it has cleared 2.91 and consolidated for awhile with a 'close' above 3.15 as the trigger. A much improved chart 'so far'.