Cheniere Energy has been sinking as the broader market advances. Now some traders may see risk of another push to the downside.
The first pattern on today’s chart is the series of lower monthly highs and lower monthly lows since early December. This contrasts starkly with the advance in the S&P 500, potentially reflecting bearish sentiment in the tanker...
We are at a potential great buying area and as you see there is a lot of room to the upside. I will be looking for us to prove and activate one of our stronger buying continuation algorithms (stronger than orange) to then try and break out of our magenta and white controlled selling algos.
But forsure the retest and support of green which had initiated our ascent...
While PEPPERSTONE:NATGAS drops to lows not seen for decades NYSE:LNG may be setting up for a potential trade to the upside.
Recent low is a Gann Pivot and should be used as Stop Loss
You can also play this using option - see my X post
