All in the video. I'm collecting Nat gas near these levels and I explain why in the video - I hope it's helpful - good luck!
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4 hr channel on Nat gas futures.
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looking better this morning, needs to get over 3 dollars for the majority to notice.
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horizontal shape looks like a consolidation, a breakdown goes to 2.60 or less, a breakup would be significantly bullish.
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2.5 area reached. tomorrow is the natural gas report. Important to hold this level.
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closer view - aa little lower to break the channel would be typical. If they don't back bounce into the channel, it's going lower.
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If nat gas can back into the channel it's more bullish. EIA numbers today at 1030am.
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we are holding the channel so far - bulls want to see this hold today, Under 2.5 would be bearish (for me at least)
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if it's a cup and handle, target is mid 5's on NG
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nat gas lost 2.50 overnight - bearish. we're at support, but it may go lower. watching for a capitulation move.
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nat gas back to it's channel, a recapture would be bullish.
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Gas had a nice run and this looks like the end of the first major retracement.