While BofAML’s Macneil Curry is a long-term bull on Natural Gas (with expectations of a push to $7.33 and on to $7.80), he warns, for now, its’ time to move to the sidelines as a medium-term top is at hand…
The combination of continuation chart resistance at 6.41, coupled with the completing 5-wave advance and bearish momentum divergences in NGJ4 say the uptrend is exhausted for now.
Look for prices to pull back toward 4.54/4.33 before the long-term bull trend can resume.
via Zero Hedge http://ift.tt/1epM3z8 Tyler Durden