Natural gas looks prime for a reversal from its selloff as price formed a double bottom pattern on its 1-hour chart. A break past the neckline around $2.350 could set off a climb that’s the same height as the chart formation. The 100 SMA is still below the 200 SMA, though, so the path of least resistance is to the downside. In other words, resistance is more likely to hold than to break. In that case, natural gas could still retreat to the bottoms around $2.200-2.250. Then again, price has climbed above both moving averages as an early indication of bullish momentum. Stochastic is turning lower from the overbought ... (full story)