Nat gas is currently still in its long term H&S pattern and it might be forming the right shoulder. As we speak it is holding a bullish Trendline and above the monthly pivot of $3.58 and it rejected the PWH of $3.82 so it seems stuck between support and resistance waiting to see will take charge. I will be looking for long positions on closes above $3.82 and short on closes below $3.58. If we break the PWL or PWH this week that should make way for a 10-15% move to find new support or resistance($4.12 resistance and $3.03 support).
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.