Three touches on each side of the wedge, perfectly touched the uptrend line, as well as a storage report coming out after market close tomorrow. Due to falling wedge and bull price action since last march i am leaning long-side here, but do your own due diligence and watch the movement after the report. If price takes off upwards i would expect quite the move here.
NG gonna hit 3.2 due to the cold weather in east coast US. Prior, it tested the lower point of 3.08 and bounced back.
We seeing bullish rotation of the "point of control." Be aware of the overhead "gap" that remains as it will be an opportunity for trapped longs to exit trades with minimal losses. We will likely see longs who accumulated through Mar/Apr/May take some profits. These actions are likely to create some near term resistance. This may also result in prices...
Bulls are attempting absorb the supply evidence by the higher lows present. The theme remains that demand exceeds supply. Given that prices closed on support I believe a LONG entry is reasonable with a "tight stop" as shorts are buying into resistance. I believe we are seeing strong hands maintain their positions while new entries respect that they are...
The theme remains bullish for "natty" as we rally off of support after identifying bullish absorption. We can see 3 months of ACCUMLATION here so it difficult to estimate an upside target but we can identify some anticipated levels of resistance at $8.00, $8.30 & $8.80 as well as "gaps" created during the "markdown." We saw a decrease in cumulative selling...
Natty's bullish close above resistance offers traders well defined risk. It looks like a reasonable 1:10 risk/reward entry here with a lower volume area. The ceiling with the "value area" appears to leave plenty of room to allow prices to continue into resistance. Volume looks good; however, cumulative buying looks weak. If it remains so prices will likely...
Pattern currently looks to target 2.66. Below recent lows of 1.63 would negate.
$CL_F $NG_F On a both a relative basis with oil and on an absolute price basis, natural gas is trying to complete a false breakdown. Going forward look for nat gas to significantly outperform oil.
NAT GAS IS APPROACHING SYNERGY.... WATCH THE FUTURES PRICE OF 1.57- 1.40
I went long NG 2.26 Looking for momentum to continue into 11/16/2015
$NG_F weekly chart. Two reversal theories in play, one is an inverse H&S the other, more likely, is a double bottom.