17th Oct - Natural Gas Recovery Nears Next Hurdle
17 October 2013
WEEKLY CHART – CONTINUATION:
The drop back from near the 61.8% retracement found support from the 3.173 50% pullback area, which prompted recovery.
Resistance on this continuation chart first comes from the 3.933 Nov-12 high.
DAILY CHART – Dec-13:
The pullback in Sep found clear support in the area of the old 3.6600 Jan low. Subsequent rebound has neared the resistance line around 4.0300 – a break through this would be a positive signal and, if prices can hold firm, the power should be there for a continuation towards the 4.4220/4.4430 area, Nov-12 high and 76.4% retracement.
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