A reversal plunger bar formed on the 26 Sept 2013. The bar also entered inside the (0.618-0.764) Fib buy window: a good sign for the bulls. The weekly EIA natural gas report was issued the same day ir.eia.gov/ngs/ngs.html showing a net storage increase from the previous week. This pushed the price down to 3.450 but by the end of the trading day the price was able to regain strength. Normally this kind of price action, in particular if associated to report or news, is a signal that the selling pressure is exhausted and the market will start to rally. We can see on the horizon a H&S forming. This market has a strong seasonal tendency to bottom in July/August and peak in December.
Commentaires
QuantitativeExhaustion
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Good job.. Should have invested in this one
LEONES
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one week of pain but finally moved higher. Could a H&S now
QuantitativeExhaustion
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What's next?
LEONES
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Metals look good on the short side (H7S?) and Tresury notes setting up for a long. What do you think?
QuantitativeExhaustion
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i agree with the T-notes. that's what I'm watching right now.. Think i can get a small gap down tomorrow and breakout to 107.95 and maybe 110.90
LEONES
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which one are? I'm looking to buy the 10-year treasury Notes, simbol ZNZ2013
LEONES
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Hit the target! Natgas reached the 1/1 Gann line today, 10Oct13. A pullback is now in the cards.