1
$NG showing strength, but 5.66 is key
Watching $NG closely today, the move up has been strong, hitting 5.66 earlier. I'm seeing decent volume behind this push, suggesting more than just a short squeeze.
However, that 5.66 level is becoming a critical resistance point. If we can't sustain a move above it and start consolidating there, I'd consider this a potential exhaustion move. A decisive close below 5.325, the day's low, would likely invalidate the current bullish momentum for me.
2 comments · 1 points
I'm seeing that 5.66 level as well. It's going to be interesting to see if the volume can sustain a real breakout or if it's just a short-term rally burning itself out against that resistance. What's your take on the broader macro picture for natural gas right now?