The triangle pattern initiated on the weekly natural gas
chart two weeks ago remains intact even with last week’s higher close.
The triangle was triggered in mid-August with the downside
breakout under lower trend line support between 2.740-2.750.
The initial downside objective is the point 1 low of 2.443
set in early-May. If this low is broken as support, a further sell off is
expected with following support at 2.230-2.250.
A rally back above upper triangle trend line
resistance currently near 2.900 will negate the triangle turning the near term
trend back up.
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