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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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...If the dots don't connect, gather more dots until they do...




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Wednesday, October 03, 2012

Natural Gas Retreats at Major Resistance as Volatility Builds

Natural Gas hit a confluence of major Fibonacci and price resistance and is dropping today, as shown on the Weekly and Daily charts below.

The question is, "Will it fall to the mid-Bollinger Band on the Daily timeframe, or find support around 3.2 before, potentially, bouncing?" In any event, intraday volatility and volumes have been rising in this commodity. We'll see if that continues. It may, if equities finally start to correct, which may occur soon due to a recent rise in volumes and intraday volatility in the ES and TF, as mentioned in my post of October 1st.