Nat Gas has been unable to rally at all since the sharp run up that ended last February. It had a chance to breakout a couple of weeks ago, but appears to be another corrective channel. This channel is breaking down now. 3.80 is the recent low, basically our confirmation point.
It's amazing energy can't find a bid even with the dollar finally going down these last couple of days.
Update 10/14: I used Monday's spike to the 3.90's to get long DGAZ. I then added to a full position as it reversed Tuesday. I'm trading against the resistance near 4. Below the summer lows, the first main target is the November low around 3.40.
Here's an updated look at the chart.
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