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12th Dec - Natural Gas Gains Spur the Bulls

12 December 2013

MONTHLY CHART – CONTINUATION:

Latest strength is seeing the long term 23.6% recovery level loom into view, beyond which interest in this market increases.

WEEKLY CHART – CONTINUATION:

Recovery through the level of the 3.933 Nov-12 high is exciting for the bulls – a further move through the 4.444 May high and the 61.8% retracement is now probable. Eyes then swivel towards higher 5.115 76.4% level.

DAILY CHART – Jan-14:

The break through falling resistance and the channel top projection has emboldened the bulls and, s/term, we wait to see if the 4.504 76.4% retracement can provide temporary resistance. The old channel top at 4.025 then becomes support.

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