This move upward in Natgas is largely due to LNG exports making a solid base. It is today close on US exactly at the .238 Its a megaphone until it isnt
I am thinking the 2015 model on glut with a similar move could still break at
$2.97
However long into truncated megaphone hold
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tradingview.com/x/HZB4beW9/a .5 retrace on the big tankage is where I am gunning for a right shoulder targer formation
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you can seee how the range is in megaphone with the pitchfork in dicating likely a swing lower
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we see how this fan megaphone is still functioning in wild nat gas swings
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we see the fan centerline megaphone has remained significant and is the current price atm
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the 3 dollar handle is the bullish logical tech target but fundamentals are implying a return to bearishness with oil by product production rampant and Canadian crisis level locked in not profitable reserves ready to come online if prices rise at all..sept should see a return to bear until cold weather draws may provide sustained bullish trend reversal
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also see in the megaphone is the anomalous nature of the spike in prices last fall/early winter