Natural Gas or NG is forming a nice bullish setup on the daily time frame. We can see that the price has already broken the upper range and is now touched a resistance area. When looking at the Stoch indicator theres enough buying pressure left.
This info combined with the forecast EL Nino and hot summer are strong bullish fundamentals for NG
What do you make of today's Nat Gas selloff? I thought the report was bullish in our favor?
JoshFX1
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@lawrence.khodorkovsky, I wouldnt call this must of a sell of yet. Price is still close to the entry price. Ive seen NG drop 0.150+ on inventory reports. So you could say that todays movement is weak. I think the fundamentals still remain bullish, also because the report came in slightly below the forecast