NATURAL GAS: Ahead of a 12 month Bull Market at least.

20 Şub

Natural Gas is on a very sharp four month decline after failing to cross over the 1M MA50, the second most aggressive four month drop so far in the past 19 years. Since the July 2008 High, the market is trading inside a Channel Down and this sharp decline is technically the final phase of the Bearish Wave to a LL at the bottom of the Channel Down. That means that a long term buy opportunity is gradually approaching and we are estimating a fair target level to be 1.400 unless the 1M RSI touches the 15 year Buy Zone earlier. Every bottom rebound extended initially to at least +134% and that is our target (TP = 3.100) for the next 12 months. It will also be a potential test of the 1M MA200.

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