Natural gas daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue in bullish term, testing all the way through 207-209 and furthermore levels in the upcoming sessions. Alternatively, if the market breaks below the key support holding at 199, then it might turn bearish once again. The downside rally could test up to 195 level. Key resistance holds at 209.
Research Report call:
Natural gas Buy above 205 target 207-209 stop loss 203.50; Sell below 203 target 202-201 stop loss 204.20