Been watching gas closely, personally, I am bullish, but the four hour chart looks like a bear flag is in the making. Hard to tell really... I will see if the range holds before starting any new positions
I want a to see a spike before shorting
Red lines are my entries and stop loss areas for shorts/longs
Blue lines down show possible channel forming down
Brown dotted line up shows possible bullish trend line forming
I am watching my gray trend line closely, expecting a temporary pull back to 2.06 at least. The shaded area's double as my sell/buy points, so anything outside will be traded accordingly. I have another chart on my page that explains my longer term view on natty gas, but for now I am a bit bearish.
I'm trying a new strategy this year... Waiting for the RSI to hit the lower numbers before buying... I am almost 69% positive the market is going into bear territory, but I could be completely wrong and we could just be consolidating horizontally? I had to return my crystal ball last year, so I am just sticking to ...