I think everyone would agree that NG is oversold, now the goal is to identify if there's a reversal and a possible "Spring Rally" on the horizon. RSI and MACD are making higher highs while price is making lower lows. It could be a sign of a reversal or NG is getting ready for another huge sell off once EIA report is released.
going back to 2006, Gold has bounced on the same trend line, it is starting to form a Bullish Pennant. The key to which direction it goes depends on the overall market. The volume is clearly decreasing and price is being compressed like a spring. It is going to make a big move, likely to the upside.
IBB is at a key support level. RSI overextended and at a key support level, IBB is starting to show signs of exhaustion. The upward move to $107.50 (resistance) is highly probable.
Though not supported by fundamentals, Natural Gas is in the oversold territory. High probability of a bounce (based on technicals) to the 2.6 to 2.7 area before the sell off could continue or we might get stuck in a sideways movement until the summer months when the cooling demand increases.
