View full page at energyexch.com

 

Natural Gas Showing Early Signs It Wants to Go Higher

From fxempire.com

{video} Natural gas remains in a clear downtrend but there are several signs indicating it may be getting closer to a bullish reversal off a bottom. A trend low of 3.09 was hit last Friday, which completed a 56.5% decline off the last swing high of 7.10 from December 13. That decline took place in only 25 trading days. Such a rapid descent could be hit by similar enthusiasm to the upside once a bull reversal kicks in. {chart} A potential support area is identified from several Fibonacci measurements on the chart around the current trend low. It remains to be seen whether that support area will continue to hold and ... (full story)

Story Stats

  • Posted:
  • Category: Technical Analysis