EvanJones
Short

NGAS just keeps on climbing

FX:NGAS   Natural Gas (Henry Hub)
111 1 5
As a counter trend trader NGAS has been pushing aggressively high recently backed by some cold weather spells across the US and Russia.

This chart has a lot of information so let me break it down to indicate my thoughts on what price might do next:
1.) We have 2 Missed Weekly and 1 Monthly Pivots
2.) The time period for which price has not touched or met the 200 Moving average is at a record high
3.) We have bearish divergence (in development for a long time) on the RSI which indicates a bigger retracement

A break of the trendline using pending orders and targeting half way to the missed monthly (2.5 area) would be ideal.

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watsonzou26
5 months ago
3.13?
Reply
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