Natural gas: Cup with handle formation. Looks bullish

14 set 2020

We have a cup with handle formation. Signal for buy would be a close the current down channel line. If you would go long now can use close below most ring low.

Supporting this idea is a sizable positive reversal in the daily RSI .

Major natural gas producers are: AR,EQT , and RRC all of which are up today. Take a look at them.
UNG is a natural gas ETF .

16 set 2020

Nota

1, I noticed that in a hurry I make some typing errors. Should read buy would be a close above the current down channel line. If you go long now can use a close below the most recent low.
2. Price intraday did drop below the the most recent low of 2.246 but closed just above that. So well see what happens tomorrow. Interestingly all three major natural gas producers listed above where up quite a bit today.

18 set 2020

Nota

Obviously I was too early on this one. The overall pattern still looks positive to me. Still a close above the down channel is a buy. You could also use a close above the last 3 days down trend-line to take a partial position with a close below today's low as a stop. Process your way.