NG closed the contract gap this week and is at the rising wedge lower support. There is a gap below $2. If price breaks down the rising wedge decisively, maybe that gap could be filled one day. Otherwise, there is a risk of bouncing from the lower support.
From monthly TF, Oct has a doji candle. This signal either the rally is pausing a reversal. I am also watching if price would retreat back to test the mid of BB which is around 2.5.
Winter is coming and storage may exceed 4TCF. IS tricky time to be in trade until winter outlook is clear.
Daily support/resistance on 7th Nov: 2.781
Weekly support/resistance from 7th Nov - 11th Nov: 2.944, 2.835
Monthly support/resistance for Oct: 2.896, 2.882
Monthly support/resistance for Nov: 2.997, 2.986
2016 Yearly support/resistance: 2.406, 2.518
From monthly TF, Oct has a doji candle. This signal either the rally is pausing a reversal. I am also watching if price would retreat back to test the mid of BB which is around 2.5.
Winter is coming and storage may exceed 4TCF. IS tricky time to be in trade until winter outlook is clear.
Daily support/resistance on 7th Nov: 2.781
Weekly support/resistance from 7th Nov - 11th Nov: 2.944, 2.835
Monthly support/resistance for Oct: 2.896, 2.882
Monthly support/resistance for Nov: 2.997, 2.986
2016 Yearly support/resistance: 2.406, 2.518
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