Natural Gas Shows Rejection Signs At Major Resistance Area

Back in June when price was trading around $3 we were bearish looking for a decline towards $2.70-$2.60.

Prices eventually fell… but in mid July I closed most of my short positions and let the rest run with a trailing stop. I was expecting the end of the decline and the start of a bounce... prices bounced...

On july 19th my entire short position was closed and warned bears that this was not the time to be short.

Now back at major long-term resistance I believe this is a sell zone for Natural Gas.

(Click on image to enlarge)

I have already initiated a short position and will look to add more for a fast move towards $2.82-$2.80 once we break below $2.90.

(Click on image to enlarge)

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