I'm still neutral but will go bullish with break of neckline. Then we will see the normal back test of neckline and then....Pedal to the metal. Indicators lean towards bullishness.
As always.... time will show.
Safe trading Gents!
BM
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A reversal plunger bar formed on the 26 Sept 2013. The bar also entered inside the (0.618-0.764) Fib buy window: a good sign for the bulls. The weekly EIA natural gas report was issued the same day ir.eia.gov showing a net storage increase from the previous week. This pushed the price down to 3.450 but by the end of the trading day the price was able to regain...
Natgas posted a low on the 08 Aug 13 (3.300). We are currently trading above the 20MA where the price found double support (20MA and 1/1 downsloping Gann line). The overall chart pattern is an inverted H&S, breakout of the neckline is going to project the price higher towards the next Gann line (2/1) . Another important bullish signal is the crossing of the 50MA...
Fundamentally, there's not much out there to cause a steep jump in prices. I think this is mostly a technical move - the market was simply under priced.
Warmer weather forecasts for next week could increase demand or gas by forcing homeowners and businesses to use more air conditioning, but the South was expected to remain on the cool side, partly blunting the...
I think here we are on the last wave down to 3.400. A regular swing has formed at the median line, between the inside 50% sliding parallels and finally touching the 20MA. A small trend-line can even be drawn joining the higher low points of the swing. I consider this as a bearish swing that could project the price at the 3.400 demand area. A that point the bulls...
This trade has happened with the main entry. This idea is to project the possible fall in Natural Gas due to the fib retracement that guides an extension to a confluence in price with fib extension and price action level. 3.350 area will be an interesting target for short and a possible reversal for the instrument.
For those not with on the main entry, there...
As you can see, we have an up side impulse here in the natural gas chart, with a 5th wave developing right now, and if you look carefully, because the movements in the wave (1) we can assume that the wave is extending its 3rd wave as well.
The last down bar should then be (at least part of) the 4th wave of wave (3) and therefore afther a new high, should come a...
