31st Jan - Natural Gas Enjoys Buoyant Motion
31 January 2014
MONTHLY CHART – CONTINUATION:
Latest strength has seen a breach of the long term 23.6% recovery level, beyond which focus turns to the 38.2% retracement.
DAILY CHART – Mar-14:
The 2014 upleg is well underway now, following earlier violation of last year’s 4.667 high. This plus the 4.550 Dec high provides first supports.
In the Commodity Specialist Guide we had drawn in a Fibo projection at 5.450 which has now been reached – resistance here should be temporary though, with s/term dips a buying opportunity.
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