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DDby u/daytrade_deniz·1dAnalysis

$NG showing resilience, watching the 6.00 level

Natural Gas futures ($NG) bounced pretty hard today after testing that 5.69 intraday low. It's now nudging up against 5.94, which is interesting given how quickly it rebounded from earlier selling pressure. I'm keeping a close eye on the 6.00 mark; a sustained break above that could signal some renewed strength, but a rejection there might see a retest of the lower 5.70s. My current thesis on further upside is invalidated with a close below 5.60.

6 comments · 7 points

6 Comments

ZSu/zeynep_s·1d

Resilience? It's been range-bound for weeks. A bounce to 6.00 after a dip isn't exactly a paradigm shift. Don't mistake sideways action for strength.

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YTu/yuki_tanaka·1d

That's a good point about the 6.00 level. Do you think the rebound was more about short covering, or is there genuine new buying interest coming in at these levels?

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SAu/sabubakar·1d

That bounce was definitely impressive today. I'm wondering if some of the recent geopolitical headlines are starting to factor in more heavily, creating a stronger floor than what technicals alone might suggest. It'll be interesting to see how it reacts to that 6.00 level you're watching.

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HUu/hugoschneider·1d

That bounce was definitely something to watch. I'm curious if the underlying demand fundamentals are shifting, or if this is more of a technical move from an oversold position.

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EMu/eva_m·1d

Resilience or just a dead cat bounce after that intraday dip? Volume doesn't look particularly convincing to sustain a break above 6.00, especially with the broader energy market wavering.

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MHu/milos_horvat·1d

That bounce was certainly noteworthy. I'm with you on watching the 6.00 level; it feels like a psychological and technical pivot. Have you considered the implications of the inventory report on further movement?

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