This is what I was waiting for.
We printed a daily key reversal today. I 'm posting this idea today because I think a long entry today or early tomorrow will be profitable in the following 2-3 weeks.
On the 11th of October we printed a DCL . The first daily cycle was 49 days long. Natty after the ICL usually has longer 70-75 days long dcl so this one was an exception.
After a short daily cycle the chance is high we get a longer daily cycle but even if we have a normal cycle it will be 70-75 days long.
The peak here should come between day 30 and 40 (or if this is a long cycle then day 45 is possible) so I'm expecting a daily cycle top between 25th November and 16th December.
Tomorrow we have the NatGas storage data. I think as the weather turned cold the data will be very again and it will push natgas above 2,8 tomorrow or Friday.
If you take a look at the bigger picture :
you can see that the last few days' drop was just the backtest of the 200 and the break of 2,9 easily can push Natgas up to 3,8 by middle of December if the weather turns cold.
The 50 and 200 MA is crossing over , and left the oversold territory.
Notice the difference between the downtrend into the DCL and this last 2 weeks downtrend.
Day traders are covering ahead of the weekend ; I’m holding my long positions.
Someone bought up everything above the support.