Fib retracement with divergence on RSI - seems pretty mm-mm good to me
I know nothing about the naural gas market. I do like charts. One year ago I posted a chart on the XNG suggesting the bottom may be in. (see link below). It was when the index was around 392. It turned out to be correct. I don't follow it often but I thought I would take a look again. Here is the way it looks to me. With the bearish divergence in the daily RSI I...
Common fib. relationships in corrections are A=C, A=.62 X C, and A=1.62 X C. It appears to me the later condition has been met in natural gas. Also we may be setting up for an inverse head and shoulder pattern. For my IRA I'm looking to add some LPs in gas if there pattern looks positive. They have a high dividend rate currently. If any of you have some...