1. Natural Gas continues its sell-off and heads towards ATL, if three conditions are met: 1. Daily breaks price range 2. Daily RSI manages to go sub 30 with adequate volume 3. Daily STOCHRSI breaks 30 with adequate force 2. Natural gas violently rebounds Friday or Monday and heads for top of given price range if: 1. Daily RSI rebounds ABOVE 30 (should not cross) 2. STOCHRSI rebounds at 30 or above
Good luck
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Possible Reversal today if we don't close below Friday lows, given the criteria.
RSI very low
Volume is reducing on the selling side
Bottom of the range 2.75 - 3.10
I favor a reversal toward the 3.10
Macs is at 44,000 a bit lower than the 0 line
Buying volume was high last week at 2.75
buying interest start to manifest itself at that level
Lower rig count and below 5 year average build are all the reason why I see this bouncing at this time
Volume is reducing on the selling side
Bottom of the range 2.75 - 3.10
I favor a reversal toward the 3.10
Macs is at 44,000 a bit lower than the 0 line
Buying volume was high last week at 2.75
buying interest start to manifest itself at that level
Lower rig count and below 5 year average build are all the reason why I see this bouncing at this time