Natural gas rose further last week but is still limited below 3.645. We'll continue to stay neutral first. Sustained break of 3.645 resistance should pave the way for a test on 3.933 high. Meanwhile, below 3.462 minor support will turn bias back to the downside and put focus back to 3.125 support level.
In the bigger picture, the bounce off from the long term falling channel resistance for 6.108 retained the case that such decline isn't finished. Break of 2.575 support should make a new low below 1.902 to extend the whole long term down trend. Nonetheless, strong rebound from 2.575, followed by break of 3.933 resistance, will revive that case of long term reversal and target a test on 4.983 key resistance.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Nymex Natural Gas Continuous Contract Weekly Chart
Nymex Natural Gas Continuous Contract Monthly Chart
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