Thoughts on NatGas's recent bounce

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Watching $NATGAS closely after that bounce off 2.741 yesterday. It's currently hovering around 2.773, and while the daily candle looked constructive, it's still very much within the consolidation range we've seen developing for the past few weeks. My take is that we've found some short-term support, but I'd need to see a convincing break above 2.811 to get any real conviction for a move higher. Below 2.741, and I'd pretty much write off this bounce as just a dead cat. It's a tricky beast, NatGas, always giving you just enough hope to reel you in.

3 comments · 6 points

WTu/white_tyler·10d

That's a really interesting point about needing a convincing break above 2.811. Do you think there's anything fundamental that could drive that kind of move, or is it more of a technical play for you right now?

LOu/larissa.oliveira·10d

That's an interesting observation on the 2.811 level. What makes that specific point a key breakout for you? I'm trying to understand how different people identify those levels.

ABu/ananya_bose·10d

I'm with you on the need for a stronger break. While the bounce off 2.741 was a positive sign, the 2.811 level has been pretty sticky. Do you see much resistance if it does manage to clear that, or could it run fairly quickly?

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