Nat Gas Stages Short Term Recovery
Jason Sen | Sep 04, 2014 01:07AM ET
Natural Gas did stage a short term recovery to 3910/15 as hoped and topped exactly here. The break below 3850 then signaled more selling pressure and we hit our target of 3830/25 to bottomed exactly here. Any longs here today need stops below the next support at 3810/05 for 3785. If we continue lower look for a retest of August lows and important support at 3727/15 this week.
Immediate resistance at 3870/75 could hold a move higher but above here a retest of the 3910/15 level likely. watch for a high for the day here again, but be ready to go with a break higher to target 3945/55, possibly as far as 3970/75.
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