Sunday, December 20, 2009

Natgas fills gap, kisses MR2 / weekly 50 and 76 fib

Natgas has had quite the move, since my buy call on monthly s1 at $4.44, a few weeks ago. Last week, natgas went up to the monthly R2 pivot(green line marked R2) @$5.85, the weekly 50 moving average(green line), filled an open gap(blue arrow) from last October and hit the 76.4% fib re-tracement. LOL Those confluences are resistance. Look for a pull back this week to maybe R1 / 50 dma(blue line) $5.33 - $5.50.