I'm telling again this will be a serious steep decline down to the 200 . It will shake out all the late longs.
I wanted to post this because a very strong support is ahead of us right now: 2.994.
1. It was the last daily cycle top
2. There is our daily cycle
3. THere is the 50 .
I'm 100% sure we will have a bounce from there. But DO NOT TRY TO LONG from there. Use it to add to the shorts. I think the 10 and 20 will be crossing over when that bounce is finished. It will be a short 2 days bounce and we will break the very soon and entering into the panic selling stage.
NatGas' panic selling is lovely on the short side. Analysts will be talking about the global warming and you will see news like no gas will be needed on Earth this winter.
I'M looking forward to see a bottom at the 200 (2.4$) at the middle of November.
We stopped at the support what I was talking about.
Monday-Tuesday we will have a dead cat bounce and more pain is coming in the next 2 weeks for the longs.
"But can you elaborate on what you mean by retail having left DGAZ last week?"
- Retail traders were shaken out in big losses. Margin calls, freakout sellers etc.
DGAZ is in big strong hands now. Small players are psychologically destroyed.
Retail traders ill not trade DGAZ now though we are at the bottom.
This is always how a story ends. The same will be to downside.
UGAZ shareholders will be killed when NatGa tags the 200 SMA
I will post an update on DGAZ. But this NatGas post is still will be updated next week untill we enter the panic selling. I will launch a new post then.