An interesting pattern that stands out is on the 1W log chart. This shows NG trading within a long term Channel Down since late 2009 with clear Lower Highs and Lower Lows, the trend of which is best explained with the still 1M technical indicators ( = -0.127, Highs/Lows = -0.0041, B/BP = -0.2990, = -57.2263).
It also appears that it is currently replicating the 2015 candle action on 1W which after a Death Cross led to the latest Lower Low of February 2016. Currently we are close to printing a new Death Cross on 1W and the 1W MA200 (orange line) may prove to be the Resistance for the current rebound.
As a result we are short on the long term aiming to take profit within 1.600 - 1.440.
** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **
Comments and likes are greatly appreciated.