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💨 $NATGAS UPDATE

⤑ NATGAS found strong support around the key support zone as detailed in my previous post (see related idea)

⤑ The strong weekly performance points to a change of behaviour by market participants.

⤑ The change of behaviour does NOT automatically mean that there is a TREND CHANGE. This is only the first step required for a TREND CHANGE to occur.

⤑ At this time, it is the first sign that the "status quo" bear market condition has "stopped" for an unknown period of time. It may be only act as a temporary PAUSE prior to a resumption of the bear market.

⤑ In the immediate term (next couple of weeks), I would expect prices to reverse higher as there is strong upward momentum. Afterwhich the price may drop once more to re-test the support zone. The price action resulting from the re-test (if any) will guide us further to where prices may move in the longer term.

MrStocky