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.
Coffee has been struggling to find a Yearly Cycle Low but it would appear that it may have found support near the Fib 62% retrace level. My first chart shows this on Coffee and my second chart provides a close up on JO where I added to my position today. … Continue reading →
Merry Christmas and Happy Holidays to all. 😉 … Continue reading →
Call it a gut feel but I think that today’s italian referendum vote may be the key to Cycle turns across a number of assets. Martin Armstrong has long written about his Economic Confidence Model and how 2015/16 would be the peak in confidence for governments globally. The UK Brexit vote … Continue reading →
One of the minor commodities I track is Coffee which you can trade in the Futures market or use the JO ETF (Cup of JO). I am thinking Coffee may have found it’s Yearly Cycle Low today and it may well double in price by the Spring of 2017 based … Continue reading →