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TFC Commodity Trading Forum

Re: Ng ??/Lee *PIC*
In Response To: Ng ??/Trades ()

The high over 3 weeks ago that I've put a dotted line across is 2.20. You can see today's price action approach that and backed off again. Price needs to clear that and hold above1st to mean much. The downtrend is still intact with price running up to the 20ema and poking its nose above and like a gopher standing on its high legs when whistled at quickly backs off after getting its head blow off. See how it's done that again today. Nothing has changed in the big picture despite all the claims the low is in. Until the price pattern changes with price clearing previous resistance points and clearing AND holding above the 20ema turning that moving average back up again its still a bear. Even then there is a lot of resistance in the old price consolidation are of 2.40 and 2.50 area that price will have trouble dealing with. Lots of traders still long from there and the short sellers will love to sell the crap out of NG at that level now as they know this. Even the downtrendline is at 3.00. So probably not what you want to hear but that's what I see and being unbiased I don't really care either way. If it looks and acts like a bear it probably is...............................until it stops being one.