Currently trying to stay above the 50 but that macd kiss and anticipating crossover on the daily suggest further downside to the next fib line of .00002494. I am holding off for now until the signal shows a buy
We are close to running into the 2.75 fib for June... looking for that as resistant and if not plow through. Support be at 2.66. Possible play is to short 2.75 may be range bound going into summer.
We been in a semi trading pattern. Some things to note a wedge is forming with a rising rsi. Makes me think as we get closer into the wedge with a rising rsi near over bought will see a drop in that wedge. This should finish in the first week to week and a half of February . Lots of the up run could be technicals and could be cold pops here and there . Ng hit...
I been a long term bear and had paid off... but I’m starting to see an inverse head and shoulder for a bull position soon on the daily. 2.37 will be a key area for recovery to test this play. If it falls well below then it invalidates this technical theory. Should pan out by end of week for direction
Ng has been doing some weird stuff these last few weeks. It feels like there’s a battle on this hopium of polar vortex. Regardless, despite breaking well above the previous lower high, Even sky rocketing to the 2.80+, it did not close there and fell back... testing 2.70 area multiple i.e. the resistance of the previous lower high. As well as finding support in the...
Trend line on rsi showing it’s hitting resistance couple with ng hitting the apex on the last run with a down turn that is inline with the previous lower highs. It did not take out the previous lower high and makes this a good opportunity to see if a short in play. The bullish divergence on the daily may have explain the massive run up from the 2.24 from two weeks...
As you can see lower highs and lower lows are being made and rsi is being reset every time when at or near oversold condition. I’m calling for continue low... it has a little bit more room to go up before dropping again. Furthermore I believe it’s confirmed with the weekly rsi with plenty of room left before going oversold. Natural gas tends to hit oversold on the...
