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Natural gas prices continue stabilizing around the February low. A bullish engulfing on the daily chart shows early signs of a turn higher. Watch the 4-hour chart for follow-through.
Natural gas prices are stabilizing above February lows, with downside momentum fading. The breakout above a Falling Wedge has struggled to materialize, undermining its bullish implications.
In a further sign of fading downside momentum, natural gas prices reversed losses initially accumulated last week. Is the heating commodity readying for a turn higher this week?
Natural gas prices appear to have reinforced support following fading downside momentum. On the 4-hour chart, the heating commodity is trying to confirm a breakout above a bullish Falling Wedge.
Natural gas prices continue aiming lower, but downside momentum is fading. That can at times precede a reversal as a Falling Wedge brews on the 4-hour timeframe.