Bottom Pattern, ‘W’

Nat-Gas is in a trend and potential channel.

Going back to this post, one reason given for continued lower prices in Nat-Gas, was the high price of oil: with Nat-Gas being a by-product of oil production.

Since that post, oil prices (USO) have dropped, and Nat-gas prices are on the rise.

Natural Gas UNG, Daily

The two dashed black lines are trend and channel.

There’s also a ‘W’ bottom formed; if broken to the upside, targets the ‘Measured Move’ as shown (not advice, not a recommendation).

Stay Tuned

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The Danger Point®, trade mark: No. 6,505,279