Natgas looks ready for an extended Bull Run towards 5-6$

Oct 27, 2024

A few Points:
- RSI divergence: higher lows on the RSI versus lower lows on weekly candles;
- This weeks' candle was a truncated wedge, very eager Bulls that bought before a lower low was established
- Strong magnet back to Lockdown lows

5 days ago

Trade active

- NG is in a tight Bull Channel
- On the daily a wedge has been formed, Pullback is expected
- Most probably first another push, Lockdown Lows are a strong magent before a substantial drop of prices
- ~3.0 mark might form future baseline (support)
- From there further upward projections towards next target, i.e. major gap on the weekly (~6.0)
- Note the RSI/price action divergence on the daily timeframe