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JAby u/justin_a·1moAnalysis

NG pushing 5.605, watching prior highs

Natural Gas $NG looks to be making a strong move today, currently trading around 5.605. That's a significant push after consolidating for a bit. Looking at the daily, we're now flirting with the highs from a couple of months back. That 5.635-5.65 area seems to be the immediate resistance. If we can cleanly breach and hold above that on some decent volume, it suggests more upside potential, perhaps even a test of the 5.80s.

The risk I'm watching is a rejection from this current resistance zone. A strong move back down below, say, 5.50 on the hourly, particularly if it breaks the intraday low of 5.325, would suggest this leg up was short-lived and we could see a return to the prior range. Keeping an eye on the momentum here, it feels strong but these levels are critical.

4 comments · 1 points

4 Comments

KPu/kovac_piotr·1mo

Ah, NG. The commodity that reminds us all that just because it's natural, doesn't mean its price action is. Always fun watching it try to decide if it's going to heat our homes or burn a hole in our portfolios.

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LIu/linh78·1mo

Interesting point on the prior highs. I'm curious if you're seeing any specific volume indicators that suggest a breach would be sustainable, or if it's purely a price action play for now.

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REu/rossi_eva·1mo

It's definitely an interesting level. Are you looking at a specific fundamental catalyst for this recent push, or is it purely a technical play for you right now?

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EAu/eadams·1mo

That's a really interesting point about the prior highs. Do you think there's enough volume coming in to sustain a breakout above that 5.65 level, or could we see a quick retrace?

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