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NYMEX HO (U19): Downside focus *RES.....>

NATURAL GAS
NATURAL GAS: NYMEX HO (U19): Downside focus
*RES 4: $1.9165 - Trendline resistance drawn off the May 16 high
*RES 3: $1.8839 - High Aug 13 and key resistance
*RES 2: $1.8781/8800 - 50-day EMA / High Aug 21
*RES 1: $1.8455 - High Aug 23
*PRICE: $1.8275 @ 06:19 BST Aug 28
*SUP 1: $1.7897 - Low Aug 26
*SUP 2: $1.7719 - Low Aug 9
*SUP 3: $1.7450 - Low Aug 7 and bear trigger
*SUP 4: $1.7402 - Low Jun 5 (continuation)
HO directional signals remain bearish. A bearish candle formation last Wednesday
in the shape of a shooting star (inverted hammer) signalled an end to the recent
corrective recovery between Aug 7 - Aug 13. The subsequent sell-off left key
resistance at $1.8839, the Aug 13 high intact. A break below Monday's 1.7897 low
would open $1.7450, the key support and Aug 7 low. On the upside, a move above
$1.8839 is required to reinstate a bullish theme.

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