Wednesday, September 4, 2013

Natural Gas: Watching For a Turn in Trend

$3.6860 last.
The uptrend we mentioned last week, the series of higher lows from Aug. 27 is still intact but running out of steam (and room on the chart):

 
From Friday's "Natural Gas: Charts Show Patterns Within Patterns":
...So, how to recognize the next turning point?
The 5-minute 1-hour chart shows a 4-day series of higher lows that define the short-term trend:

and which trendline will have to be broken before any decisive action shows up on the daily chart....
So, a break in trend on the one-hour to signal a possible reversal on the daily: