NatGas Cup and Handle in the making?

27 feb 2023

On my first public analysis, I suggested that NatGas would reach its 2.66 resistance before any profit taking that could bring it back to its 2.42 support zone. Now that the first target is reached, and considering the strenght/speed at which it got there, I am leaning to the idea that we'll have a cup and handle and not another reverse H&S forming. Therefore, 2.54 is the new support I check. The 2.66 resistance could even be turned as a resistance without a pullback. If it hold, then 3.01 becomes possible short term. Remember that NatGas is usually bullish from March to May. Considering recent behavior of the price, and despite our overall warm winter, we are now getting ready for summer months.