NG is not looking good for the bulls. After several attempts at cracking the 50 week MA, bulls caved in again. Thankfully for them, NG found support at 2.86, very close to the long term trend line support. A break of the TL support will motivate the bears to look for 2.50 (the Feb low). Hopefully, bulls will make another attempt at 3.00/3.10 levels before letting the bears take control again.
About Venkat Pulakkad
Entrepreneur, management consultant, blogger & forecaster. Founder of Flourish Research Media that provides insights on markets, trading strategies & risk management. Currently an active trader with 20+ years of experience trading Forex, Stocks & Options. Areas of interest: Trend / Swing trading, Macro-tech analysis, building trading strategies, deploying Risk Management techniques, and helping / coaching traders to become successful traders. Twitter link: https://twitter.com/Flourish_Venkat
This entry was posted in Natural Gas
. Bookmark the permalink