Short Term & Medium Term Bearish
Long Term Bullish after completion of last leg down of this Falling Wedge
I expect we’re at our Top (3.8-3.95) then we start rolling back all the way to the bottom. Then the next and 4th move upwards should break easily 6$
This is a scenario based on latest signs of exhaustion. Rising wedge formation in progress. There’s a gap to drop from breaking 3.091 if we do, my target will be 2.780
Market is risky, trade at your own risk
With over supply, demand going down i believe a rising wedge is being built into formation. You could see that it already broke the upper trend line which would be a signal for a downfall quite soon. Also, even though trend is up, you could see bulls were not really in control with huge resistance and brute force for every push up.
It’s only a matter of time...
$BOIL Target 26.76 for 32.08%
Or next add level is at 13.76
So far so good… I sure do love trading Natty
On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and...
Natural gas has been under pressure for quite some time. As a whole, the energy sector has been beaten down severely and is historically cheap. I do not believe this will last. We can certainly have another big drop and even take out March lows but I wouldn't count on it. There are some BIG BIG BIG changes heading our way and we will look back on these days...
As of now, expecting lots of chop within a range between $1.50 and $1.83 all Summer.
Supply is abundant and demand is slow however, bankruptcies from 25-year low prices will soon take chunks out of production and demand may have bottomed already. Hot weather forecasts in high demand states (the South and Northeast) should also pop prices. Risk to the downside is...
$ung $ugaz $dgaz $boil $gaz $unl $kold Make no mistake- ol natty will be quite bullish but watch for another big flush drop into this descending formation - very likely another drop before the bull can break out. Short term could be bearish.. wait patiently I may consider some UNG puts until we can break out of this.
Appears to be forming a flag and respecting the channel trend lines. Looking for a bounce next week (and 2 weeks) into fib/resistance ranges. The lesser probability is for the channel to break down into area of previous breakout. Currently neutral and looking for a bounce into resistance for next short position.