Natural Gas completed the bearish head & shoulders pattern exactly as predicted yesterday and we collapsed to our target of 4000/3995 in just one session & bottomed exactly here. This week has worked exactly as expected but we are now oversold at strong support. A low for the correction is expected therefore & we should see prices stage a recovery today.
We look for a move towards first target & resistance at 4120/25. If we continue higher look for 4190/99 & a high for the day here. Exit longs & try shorts with stops above 4225. 4000/3995 remains good support after we bottomed exactly at our target for the predicted sell off. However longs need stops below 3950 for a topside of 3920/15.