Natural Gas: Downside Price Action Might Be Heating Up

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Gas Asli (Henry Hub) (FX:NGAS)

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FX:NGAS Gas Asli (Henry Hub)

Comments on the chart

Komen:

Uptrend support line has gone today. The real test is a break of 2.600

Komen:

2.600 has ben tested had broken. Looking forward to shorting this commodity hard

Komen:

2.600 has gone. The downside idea is confirmed. Initial targets - if we take the pattern on the chart to be a confirmed 123top then target is 2.200. However if we are looking at the whole prior upmove to be a large retracement then we could expect much lower prices to below 1.600

Komen:

Retest of the breakdown zone? Still bearish

Komen:

Retracement may have ended here and the downside may be resuming. Would like 2.690 to hold and 2.510 to give way for this idea to continue to hold water

Komen:

Nice upmove today. I say so myself despite me wanting the opposite to happen. Now today it put in a bullish engulfing candle which always make me sit up and listed. Still looking for 2.520 to break

Komen:

Price has not moved down as expected. Right now it is at old resistance levels. A break above there puts 3.00 in clear view.

Komen:

Possibility of a Double top here so the bearish idea is still in play...

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