Ngas reversal coming to the strongest support.
We will see what next weeks will bring.
I will not enter new position as stop loss with NGAS is money waste - it always brakes them and then takes direction.
I have closed all of my long positions in gold and miners and collected profits (small ones). It is so weak, with USD on the lowest levels in last 12 months I would expect more bullishness in moves. I expect check of lower supports 1240 / 1220 and then strong up wave.
I will also not short it but take new long positions - swing trade.
Be carefull and make your...
Today is a big day for USOIL - after initial rebound yestarday' s API stopped the progress. If today EIA is clearly bearish we could in next weeks revist high 30's - 38 or similar. With bullish EIA really to 49 in next 15 days is in.
We came to the final decision point. If we break app. 2.45 I don't know where the bottom will be.
If NGAS manages to rebound from this strong support area /2.45-2.65/ nice gains are possible. I'm staying aside but I might open long position. I will not post it as I'm not regularly on net.
MAKE YOUR OWN DESCISION IF YOU TAKE THIS TRADE THE RISK IS VERY BIG,...
We stayed above resistance yesterday, it is extremly important for longs to bounce from this resistance which could open door to USOIL 55/60. We could end up back in our range at the end of the day.
It will be combination of techicals and fundamentals. If API and EIA this week are positive, the bounce could be very strong.
On the other hand longs are very...