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TFC Commodity Trading Forum

March Nat Gas *PIC*

Haven't posted this for awhile but March Nat Gas has bounced back to the 3.55 price resistance area which was the breakdown point in early December and is now resistance. This is also the Fib 50% retracement point of the Oct to Jan selloff. Price must clear AND HOLD above 3.55 to expect further price rises. Even then the double top at $4.00 is major resistance and a level where switching from Coal to Nat Gas is not feasible. And on a price chart using a ratio chart of Nat Gas/Coal going back to Nov 2010 is also long term resistance. As always draw your own conclusions......................