The triangle consolidation pattern that has been forming on the natural gas weekly chart is on the verge of being triggered with a breakout under lower trend line support.
This support at the lower-2.700 level is being tested in today's early trade. If broken, the natural gas market should begin a final price break before a post-summer seasonal low is set.
The downside measuring objective for the triangle is for the spot contract to trade down to the 2.100 level. This may be overly optimistic but only time will tell.
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