Loading...
Loading...
Natural Gas held strong Fibonacci resistance at 3.439 which was our a selling opportunity. We predicted an end the correction & a turn lower. Exactly as expected we tested support at 3.362 & saw a bounce from here as predicted. However we could continue lower today to good support at 3.330/317. Expect a low for the day so exit shorts & try longs but we need stops below 3.245.
If we hold 3.362/360 again today look for a move towards 3.426/434 & a second selling opportunity. Exit longs & try shorts with stops above 3.465. A break higher should then signal further gains with a gap to fill at 3.548. We should struggle here as we start to look overbought on the daily chart at this stage.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in