Natural Gas ended to the 3 week correction on Tuesday as predicted & headed higher as expected to fill the gap at 3.510/526 & run on to 3.547. Above here today’s targets are 3.568 then 3.616/620 which should hold the topside at this stage.
If we hold below 3.500, however, we should see a drift lower to 3.495 possibly 3.450. This should hold the downside but below here risks a slide to 3.416/3.406 & perhaps as far as a retest of yesterday's low at 3.380 for a buying opportunity.
Weekly outlook: Good support at 3.412/402 & if this holds the downside we can stage a recovery to 3.549 then 3.635 & possibly as far as 3.705. A break below 3.380 offers a buying opportunity at 18 month trend line support at 3.361/358. However a break lower could target 3.215/3.173.
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Nat Gas Correction Ends, Headed Higher To 3.616
Published 11/07/2013, 06:10 AM
Updated 05/14/2017, 06:45 AM
Nat Gas Correction Ends, Headed Higher To 3.616
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