Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG) Natural retreats sharply after hitting 6.18 high. While an intraday top is in place, short term outlook will remain bullish as long as 5.779 minor support holds. As discussed before, a short term bottom should be formed at 5.21 after just missing 5.192 long term support on bullish convergence condition in 4 hours MACD and RSI. Further rise is expected to be seen to trend line resistance at 6.43 and break there will put focus to 6.978 resistance. On the downside, below