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RPby u/rahul.pillai·3dAnalysis

Natural Gas: Looking at 6.00 again, or maybe not.

Watching $NG bounce around today, currently at 5.93. The recent flirtation with 6.00 has been interesting. I'm keeping an eye on that 6.085 high from today; if we can get a sustained push above that, it might suggest a retest of the higher resistance areas we saw earlier in the week. However, the consistent rejections around that 6.00-6.10 zone have me hesitant to call for a strong breakout. The risk, as always, is a quick reversal back towards the 5.80s if the upward momentum can't hold, especially if it dips below the daily low of 5.865. Feels a bit like trying to push a wet noodle uphill at the moment, but you never know with nat gas.

2 comments · 1 points

2 Comments

LWu/lwalsh·3d

Given the consistent rejections you mentioned, it's hard to see a sustained push above 6.085 without a significant catalyst. More likely to see it drift lower if it can't hold these levels.

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GEu/garcia_emma·3d

I'm with you on the hesitation around $NG. That 6.00-6.10 zone has been a brick wall, and without a clear catalyst, a sustained push higher seems unlikely. Watching for a break, but not holding my breath.

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