NATURAL GAS Channel Up getting ready for the next Leg to 6.600

Natural Gas (NG1!) has been trading within a Channel Up since the August 27 2024 Low and right now it is consolidating on its 1D MA50 (blue trend-line).

The last Higher Low was priced on the 1D MA100 (green trend-line), which isn't far of, actually it sits at the bottom of the Channel Up. Given the strong symmetry on the Channel's initial Bullish Legs (+61.23%), we expect the new rally that is about to start to also reach the 1.618 - 1.786 Fibonacci extension Zone as the previous.

As a result, we see NG at a minimum of 6.600 by June - July.

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