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Natural Gas Price Forecast: Current Patterns and Potential Price Targets

From fxempire.com

{video} Natural gas exceeded its first target today at the completion of a rising ABCD pattern. The high for Tuesday is 2.09 and the pattern target was 2.07. Resistance was seen off the high and trading is happening at the lows of the day at the time of this writing. It looks like a test of support at the lower declining blue dashed parallel channel may be in the works. The April 14 swing low of 1.95 can be used as a proxy for the line if reached today as it is crossing the dashed line. Otherwise, watch for support at or above the top boundary line (purple) of the symmetrical triangle bottom. The three-day low of ... (full story)

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  • Category: Technical Analysis