Since the open today Natural Gas has broken support and the obvious next target is now the support level at 3.8. If that breaks then I'm not seeing much support preventing a test of the lows on this:
Jack Chappell aka Springheel Jack - A Classical Trendline Chartist's View of Equities, Bonds, Forex and Commodities
Monday, 9 August 2010
Natural Gas Triangle Breakdown
I was looking this weekend at Natural Gas and wondering which was this triangle was going to break. I've used UNG as the background in green to illustrate just how badly it has failed to keep up with Natural Gas:
Since the open today Natural Gas has broken support and the obvious next target is now the support level at 3.8. If that breaks then I'm not seeing much support preventing a test of the lows on this:
Since the open today Natural Gas has broken support and the obvious next target is now the support level at 3.8. If that breaks then I'm not seeing much support preventing a test of the lows on this:
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