Natural Gas Daily Cycle Update
June 26 is well confirmed as the daily cycle low.
The bulls were strong early in the cycle but now appears to have been a strong counter trend rallied fueled by weather changing short term fundamentals.
Bulls do still have a chance but with the weak bounce that failed this past week price action favors the bears.
Depending on the bear strength price targets would be $1.50 or $1.30, there is a chance for substantially lower due to current market conditions
If fundamentals don't change much from now $1.50 will offer substantial support.
The bulls were strong early in the cycle but now appears to have been a strong counter trend rallied fueled by weather changing short term fundamentals.
Bulls do still have a chance but with the weak bounce that failed this past week price action favors the bears.
Depending on the bear strength price targets would be $1.50 or $1.30, there is a chance for substantially lower due to current market conditions
If fundamentals don't change much from now $1.50 will offer substantial support.
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