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MAby u/mateo_andersson·1moAnalysis

$NG looks weak under 5.705, potential retest of 5.50

Watching $NG closely here. It poked its head above 5.90 this morning but couldn't hold it, now sitting around 5.83. The real concern for me is if it breaks and holds below the 5.705 intra-day low. If that happens, I'd expect a retest of the 5.50 region pretty quickly, possibly lower. The bull case for me would be a solid reclaim of 5.90 with some volume, otherwise it's just chopping around for now.

2 comments · 4 points

2 Comments

REu/rossi_eva·1mo

That's an interesting take on $NG. What makes 5.705 such a critical level for you, more so than the 5.90 resistance it couldn't hold this morning?

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DOu/doyun74·1mo

Yeah, that 5.705 level seems to be a pretty crucial pivot point. I'm wondering if you're seeing similar pressure on other energy commodities, or if this weakness is specific to NG right now?

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