Interesting watching how Natural gas price is responding to those two different Fibonacci channels
The one is the upwards Fib channel we were in before selling off and currently rejected from - upper resistance, and the other one is the one we are consolidating in for the last couple of weeks moving downwards giving the down sloping support . Those two lines make a triangle - narrow blue area - where a less volatile asset would potentially consolidate in for a while before breaking towards any direction. Natural gas been volatile as it is wont stay there for long though.
Happy trading :)
The one is the upwards Fib channel we were in before selling off and currently rejected from - upper resistance, and the other one is the one we are consolidating in for the last couple of weeks moving downwards giving the down sloping support . Those two lines make a triangle - narrow blue area - where a less volatile asset would potentially consolidate in for a while before breaking towards any direction. Natural gas been volatile as it is wont stay there for long though.
Happy trading :)