Added: A second chart on NatGas after the close. Time for a TC Low is very short here but my chart shows a Fractal where we likely had another short cycle. In any case, the price action looks bullish to me and I picked up a Boil position just before the morning NG Inventory report at 7:30am PST (a bit of a gamble but it paid off as Price surged afterward).
NatGas may very well have found an early Trading Cycle Low. My charts show that NatGas and UNG are both above the 10ema today so lets see how they close.
I have NatGas with a potential TC Low on just day 12. The previous NatGas Trading Cycle was a long one, however, and often times long cycles are followed by short ones (and vice versa). Here is a UNG chart showing the close up action.
The current short term NatGas Trading Cycle has found a high on only day 5 and has now made a lower low than its previous TC Low which is bearish for its longer, unique 11-13 week Cycle.
My second chart shows this 11-13 week cycle that I have been tracking since March when we may have seen the Bear Market Low. I am showing that the current 11-13 week cycle has topped on week 4 thus far. If the pattern holds, we may see 3-4 weeks of downside action even if we get a bounce.
Natty Gas seems to be the one bright spot on the CRB today. Natty made a bullish move out of a Trading Cycle low today with almost a 10% surge today. I Nabbed a good sized starter position in BOIL for my Brokerage account near the open and added to … Continue reading →
NatGas has made a very bullish move out of its Yearly Cycle Low. Its first Trading Cycle out of that YCL has now topped but I will be a buyer at the next TC Low as the overall price channels I am following look very bullish here. My last chart … Continue reading →
NatGas has made a very strong move here out of its Yearly Cycle Low and has started a new 5-6 Month Intermediate Cycle with a bullish move. Shorter term, however, I took profits on my Boil position today as I have NatGas on day 15 and Toppy in terms of … Continue reading →
I have NatGas on day 3 of a new Trading Cycle and it may be that Natty Gas has also left behind its YCL. Breaking my Red downtrend will confirm but from a Time perspective we it looks like we have a shorter term 11-13 week Low in place. Previous … Continue reading →