Is $NG showing a false bottom or actual consolidation?

asked by u/jhernandez · 18d · 1 answers

Watching $NG at 5.84 today, after dipping to 5.725. Seems like we've seen this pattern before, where any slight rally gets immediately sold off, despite what some fundamental narratives suggest for winter demand. Is this truly a consolidation before a move up, or just a temporary pause in a continued downtrend? I'm leaning towards the latter, given the lack of sustained buying interest even on deep pullbacks. Am I missing something here?

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  • u/hugoschneider· 1 pts· 18d

    I'm with you on this. While the winter demand narrative sounds compelling, the price action just isn't reflecting it. It feels more like short-term profit taking on any strength than genuine accumulation at these levels.

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