LEONES

Cold weather coming - switch on the gas!

Long
NYMEX:NGX2013   Henry Hub Natural Gas Futures (Nov 2013)
1
Natgas posted a low on the 08 Aug 13 (3.300). We are currently trading above the 20MA where the price found double support (20MA and 1/1 downsloping Gann line). The overall chart pattern is an inverted H&S, breakout of the neckline is going to project the price higher towards the next Gann line (2/1) . Another important bullish signal is the crossing of the 50MA by the 20MA to the upside. This market has a strong seasonal tendency to bottom in July/August and peak in December (seasonal trend is on our side)

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