NATGAS Double Bottom Playing Out…Expect a Consolidation

เมื่อวาน

The double-bottom pattern in natural gas is a classic bullish reversal pattern, indicating a potential shift from a downtrend to an uptrend. This pattern forms when the price hits a low, rebounds, drops back to a similar low, and then rises again. The key elements to watch are the two distinct lows (forming the "W" shape) and the breakout above the neckline, which is the resistance level connecting the peaks between the two bottoms.

### Current Analysis
1. **Formation**: The double-bottom pattern in natural gas has recently completed, with the price breaking above the neckline.
2. **Volume**: There has been an increase in trading volume, which often confirms the validity of the breakout.
3. **Resistance and Support**: The neckline, previously a resistance level, now acts as a support level. The next significant resistance level is around $3.00 per MMBtu.

### Price Direction Forecast
Given the bullish breakout and the supportive volume, the price of natural gas is likely to continue its upward trajectory. The U.S. Energy Information Administration (EIA) forecasts that natural gas prices will remain relatively flat in the short term but are expected to rise in 2025 due to increasing demand and stable supply. Therefore, in the near term, we might see some consolidation around the current levels, but the overall trend appears bullish.