Short NGAS below $2.955 to $2.50, then Long
It appears that NGAS is in the perfect upward reversal pattern, except it hasn't broken the neckline and there is bearish div on the upper hourlies and daily. also, the waves and momentums have not broken into any new uptrends lately and it doesn't look like they will. That tells me that there is a pullback before NGAS goes well into the 3s (and likely further). Notes are on chart, and as I note there, this is a short unless the upward H&S pattern is confirmed with a break of around $2.955.
Note
NGAS still wasn't able to break the upward H&S neckline and finished the day with a shooting star candle. Also, at the very end of the day, it broke below the uptrend channel that it has been in since 9/7. Trade fermée manuellement
at 2.909 I'm closing this idea. I now believe the NGAS is about to go up... besides, my focus has turned to UVXY because I think we're about to get another big drop in the market.Note
NGAS went up over 4% today
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.