For all that are interested NGE has gapped down today.
Yesterdays trading range was between 24 - 25.5 and todays candle will show trades between 22 - 23.
Remember, that nearly all gaps will get filled and i would expect this gap to be filled in the near future, so a rebound to a minimum 24 is a must. The opposite shall prevail with a downward break so 24 should act as a resistance level.
The bottom of todays candle has come back toward the 28 day moving average, which offers a great line of support.
If there is a break of the moving average line this could hint of a trend change.
Lets hope the DOW overnight rises and NGE bounces from the 28 day moving average support line. Lets see the gap filled and then left behind.
Cheers
NGE Price at posting:
22.0¢ Sentiment: None Disclosure: Not Held
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