Chart of the day

Natural gas is reaching the bottom of the long-term swing range of 1.5400 and is possibly marking the end of the five waves down from the 2005 high. A bounce here can lead to an upside reversal and a test of 3.6000.

Only in the case of a break below 1.5400, we can expect a downside continuation and an extension lower to possibly test 0.8000. A bounce will open a long trade entry with a huge profit opportunity. Follow the price action on an intraday and a daily chart timeframe for clues.

_{You can open a long trade entry upon a break above 2.4600. Short trades you can open upon a confirmed break below 1.5400.}