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February 2018 Natural Gas Futures has an interesting double top at 3.32.
The daily 200 day SMA is just below this level.
If there is a break out above
3.32 - price will also be decisively above the 200 day SMA .
A break out above clear resistance could trigger huge buying, quickly moving
price higher. 3.70 could be reached in a week.
Mark
The daily 200 day SMA is just below this level.
If there is a break out above
3.32 - price will also be decisively above the 200 day SMA .
A break out above clear resistance could trigger huge buying, quickly moving
price higher. 3.70 could be reached in a week.
Mark
After breaking above 3.32 on 1/23 ,Feb 18' Natural Gas aided by short covering quickly rose another 30 cents,.. to a 362.8 High.
From the 2.56 Low late in 2017, Natural Gas has broken out to the upside, now with a potential measured move up to $3.00 possible
Long term weather forecast's out today for Feb 2018 has much of the East Coast inside another Arctic Dome,
that will send temperatures plunging for 2-3 weeks. This forecast obviously lit a fire under the trade today.
THE_UNWIND
Hi
Thanks for the compliment.
Mark