If for some reason we are to break support, we could see rapid fall to the low outlined in green. If we do test that, that'd be a low risk long opportunity, and also a do or die situation for bulls, so, don't hesitate on going long with a tight stop if that level is retested. In this timeframe on chart, I'd like to see the bar close above support, and form a smaller range bar, and eventually break a previous bar high, before rallying again. This can take the shape of a consolidation after a rapid spike in the daily, which would be great, since it would give us further low risk long opportunities.
I'm long from near the low.
Bam, we 100% nailed this.
Holding with break even stop. I'll add on dips with a tight stop.
Nice extra confirmation: https://www.bloomberg.com/news/articles/2017-02-23/u-s-gas-pain-train-may-chug-along-as-spring-fever-grips-bears
'Contrarian headline' signal.
Banked for now. Will reenter on dips, or if we break the resistance above.