Natural Gas Weekly Price Analysis
Natural Gas Prices on weekly chart are trading above the key support levels at $3.127. However, the 200 SMA at $3.310 may temporarily resist the prices. Once prices on weekly chart closes above $3.310 (200 SMA), a long term rally may be expected in Gas prices, this will be trend reversal in Gas prices after long period of bearishness.
Gas prices on weekly chart is also trading above the 2X1 Gann Angles from the low made in April, 2012. Further Gas prices had taken support near $3.127 in Feb. 2011 and in August 2013 and in May 2015, $3.127 acted as major resistance, now prices are trading above this, so prices are very strong.
Selling the this level may be avoided as buying looks more risk rewarding.