I read the panic selling phrase on the chat at different vehicles. I use the panic selling only at the intermediate declines when price breaks through an important resistance. This time this resistance was at 2.88$.
Yesterday we sliced through that level like hot knife through butter.
A lot of people were doubting when I set my target a month ago at the 200 on the .
We are now closer to the 200 than to the highs at 3.4$. Interesting how things are changing in a week....
The next important resistance around 2.5$. This is the last DCL and the 2016.01.11 high. (Also Fibo 50)
I'm 100% sure ( yes 100%) we are going to break this level before this decline ends. The panic selling will end next week. And I'm pretty sure we will tag or maybe marginally break below the 200 .
TSI and are supporting this short. is oversold but it will print an oversold before this decline ends.
So we are on day 1 of the panic selling . If my calculation is right it's going to bottom next week Tuesday or Wednesday.
Don't forget when this decline ends I will enter heavily in longs , this will be a fantastic buying opportunity.
Lower low again.
Everybody will be talking about sub 1$ NatGas prices.
Yesterday before the close we had a pop in US NAtural Gas December. But it was only an hourly pop from 2.960 to 3.060. The continuous contract doesn't contain today's big green candle on my trading platform what we have in Natural Gas (Henry Hub).
We are still in the panic selling.
In the panic selling should not be more than one green candle, and most of the cases not even one.
Though I still think this decline not finished I'm going to take profits on half of the NatGas positions.If we have a bounce NatGas could be very volatile so I will book some profits here. I will update NatGas on the weekend.
Just give me 10 minutes.
We will be entering to the panic selling soon.