chartwatchers

NatGas - Bottom or backtest?

FX:NGAS   Natural Gas (Henry Hub)
709 6 32
Actually we have a key reversal in NatGas. My only problem that the panic selling was a bit shallow.
Only 2 days. ..
So the question is : is this the bottom or just a testback of the breakdown...
Usually in the panic selling there is no backtest but Natty is a crazy vehicle : every exception is making the rules stronger here..
Also volume is not enough high for the bottom yet.
At the indicators only RSI is giving a bottom signal.

The key reversal is a key reversal though, we just need a follow through and a close above today's high on Monday.
One more day of patience is needed for a safe enter.
Any updates on GAS today? Thanks.
+1 Reply
Energy stocks are going to go up .
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I would be very cautious with Natural Gas right now. The Weekly chart is still very bearish and Price is simply bouncing off key support to finish off the week. I'm looking at more downside.

snapshot
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any comment on the gold ?
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Currently holding 1500 UGAZ , between 2.55 - 2.56... holding on cash to add my last 500 UGAZ if we hit my target of 2.47. or will add them if this go mad bull
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