Futures Open Higher, Late Sunday Session

Nat-Gas just opened higher, currently +2.52%, at 1.834, in the Sunday session.

A continued move higher past 1.893, on the NGK24, futures may indicate a potential breakout from a terminating wedge.

We’ll use the chart of UNG, heavily traded, highly liquid proxy for the sector.

Nat-Gas UNG, Weekly

It’s relatively straightforward.

An upside penetration of UNG 16.08, indicates probability of a breakout (not advice, not a recommendation).

On an inflation adjusted basis, Nat-gas is below the 2020 lows, and 26-year lows (i.e. Wyckoff ‘spring’ position), as shown at this link.

Stay Tuned

Charts by StockCharts

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