$NATGASUSD Analysis - Short Term
Updated
NatGas - Short term to possibly fall to lower support and then to 2.60 before falling again, or bounce from 2.45 and up.
Note
Correction to above statement - 2.405** and up. Currently we might be forming an ascending broadening wedge as I still believe we should get close to the lower support before moving higher, but momentum seems to be bullish. Sell volume came but bought up very quickly, so uncertain at this point which direction.
Note
Today with the announcement of a possible rate cut, it looks like natural gas and buy volumes are high. Expect this to rise to 2.55-2.60 at the momentUGAZ might be a good day trader for ETF
Note
Still the possibility to touch down on the lower channel before moving upward (around $2.35)Movement looking healthy on this
Note
NATGAS was rejected from the upper long term resistance line (January - July), will most likely move lower from here without reaching $2.60 target.
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