Tuesday, December 8, 2009

Natty


click on chart to enlarge
There is the 5.29 Jan high and the spot mo. 5.35 high, just overhead. Additionally it appears that NG  could be close to completing a first leg up , as labeled above. The .236 retrace of 15.76 to 2.40 is at 5.57.
In other words pretty good chance of at least a consolidation somewhere in the next 15 to 35 cents.
Keep in mind however the potential for additional legs to carry through that resistance at some point.

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