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Really as Simple as it seems- Very simple case for NG bulls on a long (2-5 year) basis. Macro trend simplified with nothing more than trendlines - Shorter term bear play will be described in another post - NG appears to be making a Jesse Livermore accumulation megaphone pattern as it did in the 90s/2000s 1) red long term downtrend line broken to the upside and retested beautifully. 2) weekly chart shows higher highs and higher lows beginning to develop on a longer time frame after the nasty drop from 2021 highs to lows which bottomed in the 2$ vicinity. 3) Shorter term black trendline still providing resistance upon the 3rd test. Confirmation of a breakout here is yet to be seen (this was where the short play revolves around) 4) major resistance around the upper red horizontal line at roughly 3.19. Lesser resistance just below red horizontal line. Conclusion: NG has been and continues to be extremely cheap historically. As NG resolves these resistance zones it appears a 1-2-3-4-5-6-7-8 megaphone pattern will generate as NG eventually reaches the 12-14$ area within the next few years. Natural Gas expected to tag lower trendline and upper trendline of megaphone pattern accordingly with seasonality and resistance levels along the way. Volatility is expected as the cylinder widens and price action becomes more erratic, though long term, the trend is bullish, but the Widowmaker is not for the faint of heart. Scaling in, and buying near lower trendline tags is likely most likely to increase probability of maximum profit.
CAPITALCOM:NATURALGASLong
by Commodity_TA_Plus
The most bullish chart you will ever seeVERY LONG TERM OUTLOOK and very likely the setup of our lifetime Bigger the base higher in space. Silver is breaking out of a shorter term basing of just the handle in what is a 44 year basing pattern in the manifestation of a cup and handle For visual purposes: Arrows represent 8 year cycle lows loosely corresponding to the same 8 year cycle lows in gold give or take a few months here and there Red arrows are followed by a left translated cycle Green arrows are followed by a right translated cycle Logarithmic chart cup and handle target is 677$ USD
OANDA:XAGUSDLong
by Commodity_TA_Plus
1
Healthy Correction (possible short), Then Off to The Races-LONG1) First intermediate cycle (circled) since GOLD had its 8 year low at 1615 (3 daily cycles embedded within, the 3rd started days ago) 2)The third daily cycle will likey left translate into our new intermediate cycle low - 1850-1900 - the next intermediate cycle should break and sustain above 2000 3)The bounce/left translate cycle should become rejected at physiological resistance of 2000 4)From 2000 we should correct to at least .38 fib (1900; psychological support), or possibly lower to the .5 fib (1850) Either way this Should set up a sustained move well above 2000 5)Assuming GOLD is again rejected by 2000, Shorting GLD, GDX, or acquiring inverse ETFs (DUST), and holding them to 1900 (.38 fib) would seemingly be low risk considering GOLD is very like to correct to at least .38. At that point, we go long and expect GOLD'S next intermediate cycle to rally well into the 2000s
TVC:GOLD
by Commodity_TA_Plus
May 2021 - Silver - 17.03.2021Are Silver forming a corrective pattern? 1. Fundamentals Market seems to wait news comes from FED's meeting. But, ETF's holding Silver as well as disappointing US Reading (i.e: US industrial production/capacity utilization); i think, US dollar will be lower and it pushes silver higher. 2. Technical. Silver are currently in corrective pattern as i draw in my pic. 25.45 - 25.70 is a support zone. I think, this is a potential reverse. Traders could wait actions happen in this zone. In my opinion, i think, silver will climb higher and reach 27.05 in coming days.
COMEX:SIK2021Long
by commoditybulletin