Twas not a flat, so WTF! Many things pos IMO, many things say up for now, or a bit more down than up... 2 of an impulse, B on ZZ, X of a combo... that sweet wick on wick action in the a/1 is throwing me a bit...anyway some bull div. A bit up pos..or dumparoo $ugaz $dgaz $ung
Last update Ugaz bounced off support all the way back near resistance...maybe again? It bounced to .9 of the previous swing, so im leaning flat and now it is on the 4 of the C potentially. Then Bang, Zoom, to the Moon!...potentially. The main channel has been broken and played off of, which can happen in a 4. If we break into the wave 1 territory at the orthodox...
It has some sup/res its at right now. Hourly bullish div, but nothing on the higher TF yet. It is reaching some projection fibs. c/3 and the larger degree .5 and .618. Elliot count is still in a "could be this/could be that" situation because of the deep retraces. Lets see if ugaz is a Fibonacci nerd as well.
Dgaz is getting Bear div on the 4hr and lower. Pos ABC/123 completeish. right at some previous sup turnt res, 37.45ish blocking hard. NG is grinding the channel hard like its drunk at the club. Thinking Down a bit. But NG get can get cray! charted last night, woke up to this dip.
Just take a look at the natural gas continuous futures contract WEEKLY chart, $2.55 level and draw a line, its a clear trade setup that just pocketed 25% and 30% this week!
This is the UGAZ chart 3x bull that allows us to trade the quick powerful moves in Natural Gas knowns at the Widow Maker... LOL
I don't know anything about gas, but the weather forecasts are cold and this looks like an inverse head and shoulders on the 30 minute scale. If the neckline breaks around 46-47 (not sure which of the two lines is the neckline here), there is a pretty good gap to fill. RSI showing a bullish momentum
Last Friday I heard the news on Natural Gas. This weather is crazy. So I placed an Order in my simulator to test a new idea after identifying a gap in the order book. I said; "if it takes off, I'm in". Today, I see my strategy is working but need to do more research and testing.
The movement during the last few days showed a Sideways movement, with a recent low price seen on Thu 03.Jan.2019 at 36.61.
During the next few days an increase in momentum is expected to take the price up for 49.40 and then to 57.30 Taking in consideration the resistance levels. other than the above the price will...