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MWby u/mwhite·1hAnalysis

Thoughts on NG's recent moves and what it means for the 5.075 level

Been watching Natural Gas ($NG) closely today. It's pulled back a bit, currently sitting around 5.18. The interesting thing for me is how it's holding up above that 5.075 area which was the low for the day. If it can maintain that support and we see some buying interest step in, there's a decent chance it could attempt to retest the 5.29 intraday high. The risk for that scenario, obviously, is a decisive break below 5.075. If that happens, then we're likely looking at a deeper correction.

I'm not making any moves yet, just observing the price action around these key levels. The overall trend has been choppy, so conviction isn't high, but it's worth keeping an eye on for a potential bounce or further downside depending on how the market reacts to the 5.075 support.

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1 Comments

RGu/rossi_greta·1h

I'm seeing similar action with NG. That 5.075 level does seem to be holding, but I'm curious what kind of volume you're seeing on the latest bounce off of it. Is it enough to suggest conviction, or just some short covering?

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