NG is still hovering below the ascending channel in the monthly TF. It is also above the long term downtrend line. If price consolidate around here for a while, chances are it is going to bounce.
Daily support/resistance on 6th Mar: 2.819, 2.808
Weekly support/resistance from 6th Mar - 10th Mar: 2.799. 2.747
Monthly support/resistance for Mar: 2.804, 2.875 (NGJ7: 2.83, 2.952 )
Monthly support/resistance for Feb: 3.199, 3.333 (NGH7: 3.196, 3.323 )
2017 Yearly support/resistance: 3.415, 2.757
However, it the daily TF, price broke below the ascending channel. If it could not return to the channel, it might go to $2 again closing the gap below.
Weekly support/resistance from 6th Mar - 10th Mar: 2.799. 2.747
Monthly support/resistance for Mar: 2.804, 2.875 (NGJ7: 2.83, 2.952 )
Monthly support/resistance for Feb: 3.199, 3.333 (NGH7: 3.196, 3.323 )
2017 Yearly support/resistance: 3.415, 2.757
Crude oil prices were also supported by news of increasing supply disruptions in the Middle East, ANZ said in a note on Monday.capitalstars
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