NATGAS: Better Than Expected

MrTopStep.com

NATGAS
NATGAS S2 S1 CLOSE R1 R2 TREND
DAILY 3320 3430 3551 3595 3730 DOWN
WEEKLY 2890 3235 3551 3930 4500 DOWN

Daily Moving Averages: 21, 55, & 100:3.704, 3.551, 3.249
Weekly Moving Averages: 21, 55, & 100: 3.222, 2.842, 3.410

It was with better than expected inventories that was the reason for the posted high of the week at the 2.75 area.

• The labeled chart below explains the model we are employing.
• This view has the interim rally to 3.75 as a correction of the leg down from 3.93 to 3.505.
• This would be the counter trend rally that should give way to a move lower for the early part of the week.
• The pivot to this model is 2.50.
• With a break thereof Jan is likely to fall to 3.44 to 3.43. This support relates to a descending channel formation on the daily chart.
• However, the strong support hits the chart at 3.355 to 3.32.
• We look to be a seller at the .59 to 3.60. The minor upside pivot is 2.62.
• However, were Jan to fall to the 3.355 level we would turn a buyer with a protective stop below 3.32.

Natgas

Natgas / Stanton Analytics


Natgas Weekly

Natgas Weekly / Stanton Analytics

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