Thoughts on $NATGAS and 2.80 resistance
Watching $NATGAS closely around the 2.80 level. It's been a persistent area of resistance on shorter timeframes, and we're seeing it bump up against it again today, currently at 2.794. Intraday high was 2.802, so it's tested and pulled back ever so slightly. The daily candle still has some room to develop, but that 2.80 area just seems to be a psychological brick wall for now.
I'm looking for a convincing close above 2.80, perhaps even pushing past the daily high of 2.802, to signal a potential shift in sentiment. Otherwise, a rejection here could easily see it slide back towards the 2.775 support we've seen today. The risk, for anyone considering a long bias, is a clear failure to hold above 2.80 on decent volume, which would suggest continued pressure.