Natural gas reached 3.295 today, upped 19% in a month. It just the beginning of October, the weather is going mild in the next two or three weeks. So we will probably have another two or three weeks injections before the real winter coming. So i think it's still too early to chase that high, and the bulls are facing extremely high risk. Technically, we have already filled the gap at 3.295. MACD is over brought and nearly cross over. RSI is in over brought area. So i think the Natural Gas is facing a sudden correction before the winter.
Everything looks exactly like mine except MACD. Are you looking for a one year range? I am not seeing the crossover you are showing on your chart.
Nee_sh
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@Master4, Yes, the chart was one year range. It crossed over at 3.24, and now it's 3.275, so i think it's probably the reason why you didn't see a crossover. No matter it crossed over or not, i believe the MACD would crossover very soon.
Master4
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@Nee_sh, finally it comes to a day that I like the chart a lot because of 1) gap filled from early 2018 and 2) beautiful shooting star candle stick pattern and 3) RSI level is closed to 70 for the 3rd time. It doesn't matter to me that we have a up day (for NG) today. Reversal should be coming tomorrow and big drop we will be seeing.
@Nee_sh, loving the chart showing these two days, especially today as a confirmation. I am only hoping NG price doesn't change much today, or if it does, it is going to head down BIG.