Natural Gas - Short term levels of supply and Demand to watch next week.
Supply and Demand:
2.923 is a level to watch closely on Monday. Last week we broke through a daily trendline at that level and price ran over 71 points in less than a minute.
Just below that level there is Thursday point of control at 2.912, this is where the most volume came in before...
Interesting setup in the DXY at the end of the week.
Supply and Demand levels
We are now back into the daily chart demand zone (light blue) with price is testing the hourly demand zone (dark blue) @ 93.33 - 93.15. Supply can be found between 93.96 and 94.11.
For those who use indicators for confirmation, the Relative Strength Index indicator is now at 26, well...
Supply and Demand levels for Soybeans / 60
Dark red = Fresh supply zone
Light red = Re-tested supply zone
Green = Fresh demand zone
Light Green = Re-tested demand zones
Short term analysis:
Price is moving in a bullish channel with price pulling back from Point of Control (VPS). Lower channel trendline is close to two fresh demand zones supported by high...
Bat Pattern requirements
The pattern incorporates the 0.886XA retracement. This level is at 50.84$
B point less than 0.618, preferably a 0.50 or 0.382 XA. In the pattern above B point is 0.529XA
The bat use a minimum 1.618 B-C projection. This is projected at 49.55$
The AB=CD pattern™ within the Bat pattern™ is extended and usually requires a 1.27...