Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

March Nat Gas/Plunges to Support *PIC*

March Nat Gas topped out at the 3.55 resistance level which was also a Fib 50% retracement of the Oct to Jan selloff. Price has typically sold off to the previous breakout point at 3.34. With Nat Gas being what it is I wouldn't be my life that this support area will hold. Nat Gas is still a very sick puppy with an endless supply of product regardless. Someone with bullish eyes could argue that this is setting up to be a large Inverse Head and Shoulder pattern with 3.34 holding and then crossing 3.55 to complete a bullish breakout. While that is a stretch it is also a possiblity. Meanwhile back at the ranch NG is still plunging........................Watch the 3.34 level for a short term test.