I was in NatGas for a few weeks. It seems topped a few days ago. Now it's heading into an intermediate decline as it broke the trendline. MACD turning down and TSI turning down (had crossed down also).
For those who trapped here I think I would exit as the price is getting pulled back to 2.07-2.08. It's very volatile so I think there will be some kind of pullback.
I would sign 2 points as the end of this decline. I'm pretty sure commodity sector had bottomed so there's a very low chance that it would print a lower low.
Most probably it will turn between the FIBO 50(1.898) and FIBO 61.8 (1.829) level. If you enter here I wouldn't go all in, just keep some dry powder if it wants to print a double bottom around 1.6 and I would add on the position.
For those who trapped here I think I would exit as the price is getting pulled back to 2.07-2.08. It's very volatile so I think there will be some kind of pullback.
I would sign 2 points as the end of this decline. I'm pretty sure commodity sector had bottomed so there's a very low chance that it would print a lower low.
Most probably it will turn between the FIBO 50(1.898) and FIBO 61.8 (1.829) level. If you enter here I wouldn't go all in, just keep some dry powder if it wants to print a double bottom around 1.6 and I would add on the position.
And open only the half of the planned position there. Have some dry powder if it goes to 1600-1700$.
I don't think it will print a lower low. This is just an intermediate decline.
This is a very volatile vehicle so never go all in !