DanjaZown

DanjaZown

Massive breakout from a multi year consolidation. Currently in a small down wave and bounced off of $26.00 (roughly) which breakpointtrades.com thought was resistance (I agreed). Currently we are in a declining wedge on the hourly pattern and I am expecting a breakout followed by a fast run to about $40 to 50.

DanjaZown

Gold had been putting in a rising wedge with an expectation that perhaps it wanted to work-off some of its recent gains. Clearly not! It has opened above the upper resistance line and has put in a winning day (if you've been watching) Clive Maund on (321gold.com) just had an article published extolling the virtues of gold and the bullish upside potential.

DanjaZown

Certain geopolitical events, rising prices in Europe and cold snaps across North America seem to be pushing Natural Gas higher. It's broken a key overhead resistance but upside will be limited. You can see some of the previous support lines which do correspond rather nicely with the last move downwards. This is strictly a short-term play unless other resistances...

DanjaZown

Exactly what I was hoping for if you referred to my previous post. We've had a strong bounce off of support after our smaller retracement and I expect this to go up to about $15.64 (ish) and from there I can only guess a strong retracement (based on storage volumes etc, but we'll see).

DanjaZown

UNG has been on a bit of a tear. I think the recent run in Natural Gas has had less to do with inflationary pressures and more to do with increased US output and decreased reserves. We've broken a major resistance level and we are currently in pullback mode but I am expecting one more push to the blue line (which I think corresponds to $4 on the exchange). After...

DanjaZown

You will see the channels set up in the left sided weekly chart, but the recent surge and predicted pullback (just started today) I think means that Natural Gas (UNG) could be quite starting another bullish phase.

DanjaZown

Inreased costs (driven by a lot of factors) continues to inflate commodity prices. Natural Gas has been a real garbage dump recently but this morning made a very bullish move. I have now completed what I expect the channel to look like but going forward a pull back should be waited for before buying in.

DanjaZown

HIVE has just broken downwards from a massive consolidating triangle which is a shame. Support could come in many places but a spike followed by a lower high followed by a fall I think means for the foreseeable future there is going to be a leveling out or rounded bottom before going back up (possibly a cup-and-handle pattern).

DanjaZown

Sorry guys I haven't written in a while (Royal College specialist exams and whatnot) but natural gas is putting in a beautiful ascending wedge. To take full advantage I would short now with a stop at the upper overhead resistance. With regards to the bigger picture this is a higher low so I actually expect the trend to continue up shortly thereafter, but in a...

DanjaZown

We have a new higher low in place and its sitting right at overhead resistance! This could be the start of a breakout (even if its a small one).

DanjaZown Updated 

Our bullish declining wedge broke today foreshadowing further loses and declines in UNG. I advised all prospective and speculative day traders to wait until their was a clear sign up and no to pre-empt the trend because the collapse through support could mean further loses to eight and some change (I've drawn in the new lower support level). Let's keep an eye on...

DanjaZown

I've been doing well watching this bounce back and forth in this triangle, but now the moment of reckoning has arrived. About 30% of the time these wedges don't follow their pattern and breakdown and this might too. We have to watch very closely but if it moves up it could be good for all of us!!

DanjaZown

Someone asked me about semi-conductors recently because they had (apparently) gone exponential. Well, not quite. I think in response to the election news the past few sessions had been good but going back you can see that its been trading in a fairly predictable range. I can't comfortably call this exponential until it breaks above the overhead resistance and we...

DanjaZown

Additionally there's a breakdown of a bear flag which I noticed several months ago but at the same time it looks like a declining bull flag has been created!! We will continue to short UNG until the lower limits where we anticipate a bullish reversal.

DanjaZown

I've been following a declining wedge in UNG for sometime and we just had a breakout! I really like this sign (so far) as its also coincided with a lower support limit so we might be able to ride this for some time!!

DanjaZown

I was expecting an uptick but not quite to the degree that we saw yesterday, it was very impressive. I'm expecting a march towards the overhead resistance's shown in the near term. Long-term I'm still bullish on natural gas.

DanjaZown

We had our first green candle in a while after I called an intermediate top after the breakout a couple of weeks ago. We are still in a strong uptrend and the turn yesterday (despite opening down over 2% at the open) is a bullish sign. Today I am looking for a confirmation signal or one in the coming days.

DanjaZown

As I expect many others have commented on, this breakdown from the consolidating triangle bodes ill and represents the correction and reversion to mean I've been expecting in precious metals. I am still very bullish long-term but please watch the cup and handle pattern in gold to ensure it sticks, otherwise something more serious is afoot. What worry's me also is...