Natural Gas (NG) bounced more than 2.5% Friday (on the March contract), closing once again near the 2025 high. A significantly higher March low versus the February low is all but assured, reinforcing the higher March high versus the February high, which in term was higher than the January high and the December high. With the 2025 high higher than the 2023 high, a major bottom has completed. Healthy multi-month consolidation will likely kick in once NG reaches the 38.2% Fib retrace of the 2022-2024 bear market. Volatility may arrive sooner with Thursday’s highly anticipated weekly storage figures. The weekly, daily and 4hr RSI, stochastics and MACD are bottomish or rallying. I am looking to enter long in the green zone (of the daily chart), targeting the red zone for Friday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).
Weekly/daily/4hr
作者:Darren Chu, CFA,文章来源FXStreet,版权归原作者所有,如有侵权请联系本人删除。
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