Natural Gas did push through 3.480 as hoped to hit the 3.534 target. We over ran just a little to 3.554 but then turned lower. We have bounced off support at 3.390 & if we can hold above 3.460 we could go for another test of 3.534/3.554 highs. It is unlikely we can push through here today as this is 10 month trend line resistance but a break would target 3.592/613.Support at 3.399/386 could hold a move lower again but a break then targets 3.339/315 where we would expect to see a bounce. If however we move below 3.320 we should fill the gap at 3.294/289 & find excellent support here.
Long term levels3.933 2012 High3.796 200 Week Moving Average3.748 December High3.461 100 Day Moving Average3.337 Last Week’s High3.319 100 Week Moving Average3.095 200 Day Moving Average3.079 Weekly 38.2% Fibonacci
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