Price below neckline ($3.51). Head-and-shoulders target: $1.50-$1.65. Technically, unlikely to reach target. EIA: +55 Bcf (week ending July 2), inventory at 2,953 Bcf. Weather: Seasonal (~70-85 Bcf/6 days forcast). Steady, no change. Forecast Price Action: Short-term (1 week): $3.15-$3.25 Medium-term (2-3 weeks): $3.10-$3.20 Long-term (1-3 months): $2.50-$2.70 Trend: Bearish short term, long term bullish, in other words pull back to support , Technical Note: Focus on 1-week chart to reduce noise. $3.38 is key weekly pivot point. Expect choppy action, likely a move lower, then a bounce, repeating. 3.00 also seems to be a big round number to watch, lets see how it plays out, Good hunting!
NG1! at 3.467, below head-and-shoulders neckline. Short week due to July 4th closure. Watching 3.49 weekly pivot close. EIA reports 55 Bcf storage build, signaling low demand, likely pushing prices down unless heat spikes. Nat gas holding above seasonal norms. Short-term bearish, long-term bullish. im Sticking to 1-week timeframe to cut noise. good hunting
NG1! Study Update
