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Thoughts on NG's recent range and potential breakdown
Been watching $NG pretty closely today. We're holding around the 5.84 mark, but the range has been pretty tight, 5.725 to 5.88. What's catching my eye is how consistently we're seeing resistance around that 5.88-5.90 area over the past few sessions. It feels like there's a build-up of selling pressure there.
My concern is that if we break definitively below today's low of 5.725 and don't regain it quickly, we could see a cascade lower. The risk to that view, obviously, is a strong push through 5.90, which would invalidate the current bearish lean I'm seeing. It's certainly not a guarantee, but the inability to push higher despite some attempts makes me cautious here.
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