Natural Gas: A Strong Bear Trend
Jason Sen | Oct 28, 2014 02:34AM ET
Natural Gas made it as far as resistance at 3650/55 and topped almost exactly here at 3644. However we have held support at 3545 as predicted and it is starting to look like the downside is more limited despite the strong bear trend. Our first challenge is 3585/90 but above here opens the door to a test of resistance at 3630/40. A high for the day certainly possible but shorts need stops above 3660. Be ready to go with a break higher to target 3675/80 then strong resistance at 3695/9700 for an excellent selling opportunity.
Good support at 3555/45 and again a good chance this will hold the downside but be aware a break lower should then target 3495/90. A break below 3480 adds pressure to target 3410/00.
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