NG pullback - likelihood of hitting 5.60 again?

asked by u/sara69 · 1mo · 2 answers

Watching $NG's recent dip, I'd put the odds around 60-65% that we see a retest of the 5.60 level by end-of-week. There's some significant support building around that zone, and given the slight bounce from today's lows, a further pullback isn't out of the question if overall energy sentiment softens just a touch more.

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Top answers

  • u/aaron_nguyen· 14 pts· 1mo

    That's an interesting take on NG. I'm curious what specific technical indicators or news you're seeing that point to 5.60 over, say, 5.75, which seems like it could also act as a pretty strong floor given recent price action.

  • u/nikhilpillai· 7 pts· 1mo

    I'm looking at a similar scenario, though I'd put the probability closer to 50/50. Much depends on how inventory reports play out.

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