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TFC Commodity Trading Forum

Re: Nat Gas/Lee/Trades
In Response To: Re: Nat Gas/Lee *PIC* ()

Hi Trades,
Thanks !!

Either charts shows the situation pretty well ....

Ng is "painting itself into a corner"" !!!

Looking at my 1yr, daily chart the last week or so has formed a triangle of lower highs, higher lows pointing right at 3.94.

I don't know whether you would call it a triangle, wedge, pennant but it is certainly getting boxed in !!!!

Prices are increasing on every contract month through February at this point, but frankly, not all that much -- at 4.324 for Feb.

Wouldn't be able to trade V (Oct) beyond next week anyway. Nov is at 3.998 so they already have it priced higher going into the Roll.

Certainly bears close watching, something has to happen pretty soon !!!

I wouldn't trade it anyway at the moment unless it really starts to move and a day trading opportunity presents itself.

I don't see any real reason that it might not go down further at the moment. You are better looking at the chart than I !!!!

I don't know what you see in your MACD and RSI at the moment ?? My eyes suggest more likely up than down from them ???
Thanks, Lee