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Natural Gas Trend analysis

CMP $4.460 as per daily chart counter is moving in accending triangle and as per this triangle primary support is around 4.040 for this session if natgas hold to manage below this level then we will see a retest of 3.70 and 3.30 in coming days.. but 4.00 is looking a reversal point and it may act as good support and reversal from that area will confirm new highs for the year.. and may rally up to 5.22 and 6.00 till nov. dec. as per this triangle we can expect a retest of 4.26 that is support of resing trend line there trader can use 4.00 as sl if want to go long in this counter for tgt of 5.20-6.00 in comming days.. a break below 4.040 will completly neglact this bullish view 
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ram said…
nice analysis and chart work as usual.......ng reversed from the support.........:)
June 23, 2011 at 1:28 PM
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