Weekly – In the downtrend. Trade pressures are down. Volumes are bullish.
Daily – Short. In the move up and in an uptrend. Trade pressures are now down. Volumes are bearish.
The drop below 55.70 has triggered a new short entry.
The next target down is 52.66.
A close above 58.00 would signal higher.
Use 58.00 as the short stop.
NAT GAS_ NGF20
Weekly – Efforts to get price above the downtrend resistance line at 2.90 have failed. Trade pressures are down. Volumes are bearish.
Daily – Flat. The daily long trade entry was stopped out immediately at the 2.55 low pivot. Trade pressures are down. Volumes are bearish.
The 2.40 target level and the October low pivot were breached with the wide bar down on Friday.
The next target down is 2.06.
A close above 2.40 would signal higher.