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TFC Commodity Trading Forum

Re: Sept Nat Gas/ Continues to Chew at Resistance *PIC*

No comments because that has nothing to do with KORN. There isn't anything else to read here lately other than Korn rantings.

Yes price has typically cleared the 2.91 resistance and closed above for the 3rd day and on a Friday close to boot. Now price is still trapped between 2.91 and 3.15 resistance. Another tight channel to deal with and price still has to hold above 2.91 to confirm. So far a nice test of the 2.22 double bottom and a breakout over the downtrendline resistance and consolidating. And now clearing 2.91 resistance. Classic price action. There is another acid test in the making here. That is the "BOOGIEMAN" which is the 200ema that has stopped NG in its tracks for a few years now. And that is right at the 3.15 level as well making it a major test ahead. So while the pattern has been one of base building within a bear market it is a much improved chart with far more potential than has been seen for a long time. Bottom line: Price MUST clear 3.15 AND HOLD above to mean much of anything ahead.