Buy NG1! for bounce off trend line support and potential break out of wedge.
I'm still long on $chk and got shares under $5. The channel remains in tact, gaps appear to be filled. There has been 2 successful breaches on the money flow index, that gave rise to share prices prior to the decline. Imo, we were due for a decline. I will post another chart showing a green cloud on the 3hr chart which is starting to act as support
There appears to be an error on this chart for 26th April data. On the natural gas futures chart, a well formed Head and Shoulders pattern since 20th April I'm looking to short with an initial 40 point target. Stops above today's upwards spike after the FOMC announcement (on this chart it is 2160)
NAT GAS IS APPROACHING SYNERGY.... WATCH THE FUTURES PRICE OF 1.57- 1.40
Chart shows daily reversal candles inside of bull flag PT 2.27
Excellent asymmetric risk/reward opportunity here.
FUNDAMENTALS: • WEATHER. The latest weather forecasts look more bearish than they did on Friday. Sunday EC12z and GFS12z runs look warmer than they did on Friday, but deviation from norm still has a bullish inclination. Positive equatorial sea surface temperature anomalies continue across most of the Pacific Ocean. A strong El Niño is expected to gradually weaken...
#SPY #QQQ #IWM #DIA avg. vs.#NG_F #CL_F avg. Note divergence and trend flow. Cycle 'revergence' initiating.
*Drops Dishes* WAVES! The price action travels in waves! Now would be the time to applaud. Troglodytes. Thank you @BattleAxe for jogging my memory.
NGAS Natural Gas Pitchfork Break Down Natural Gas price has broken down out of its pitchfork channel from the peak of $3.1 Charting further test of support levels at 2.534, 2.471 and 2.437 I'm currently long and will be looking to reduce the average cost of my position by short selling.
I am basing this technical study based off last years september cycle. Simple pattern autocorrelation.
NatGas appears to be starting a wave c of an a-b-c move. This pattern is the favored pattern so long as price remains above 3.72. The August 12, 2014 move lower was a 3 wave move where red wave 'c' was nearly equal to red wave 'a'. This suggests the whole pattern is likely to be retraced meaning prices visit 4.03. Additionally, the equal wave pattern appears...
This is one of the cleanest H&S patterns I've seen in some time. Price is currently above the neckline which puts my systematic trading approach in the Long camp up until COG is beheaded. Target price for either scenario, Long/Short of the H&S pattern is shown by the colored boxes to the right of the last close. The Short side has additional support show by...
GLOG IS THE COMPANY THAT SPUN OFF ITS PARENT COMPANY GLOP, WHICH USUALLY IS THE OTHER WAY AROUND HOWEVER ALTHOUGH ADVOIDING THE THREE MONTH RULE CERTAIN EXCEPTIONS APPLY.... IF A COMPANY HAS SUFFICIENT EARNINGS AND HAS ADDITIONAL REVENUE THEY WILL IMMEDIATELY PROSPER. AS SHOWN IN THE FIB LINES ON AN INCREDIBLE UPTREND EACH MOVE BREAKS THROUGH ANOTHER FIB...
GLOG IS THE COMPANY THAT SPUN OFF ITS PARENT COMPANY GLOP, WHICH USUALLY IS THE OTHER WAY AROUND HOWEVER ALTHOUGH ADVOIDING THE THREE MONTH RULE CERTAIN EXCEPTIONS APPLY.... IF A COMPANY HAS SUFFICIENT EARNINGS AND HAS ADDITIONAL REVENUE THEY WILL IMMEDIATELY PROSPER. AS SHOWN IN THE FIB LINES ON AN INCREDIBLE UPTREND EACH MOVE BREAKS THROUGH ANOTHER FIB...