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Re: Sept Nat Gas/ Clobbered at Resistance/Ceejay

Well I all I know for sure is 'resistance is resistance'. And this one year downtrendline and price resistance that price tried to clear today and failed is a major one to deal with. Price action did clear away some resistance today with that spike through resistance as it does when short sellers get stopped out. And new shorts just might not be so willing to sell into that price zone now with a few getting their short fingers burned intraday. So some work has been done on clearing resistance. But the seasonal trend charts I get from Moore Research overlaid in 3 time frames are consistent in showing mid June through the 3rd week in July to be the most bearish time of year. And after a bounce then price does tend to bottom in early Sept. While I don't track fundamentals I do like those multiple seasonal trend charts to show the consistent trend of prices throughout a year. They do tell a story of price trends all things considered over time. While any single year can be out of trend and even inverse they are a good guide on fundamental and high probabilities overall when all 3 time frames measured from 5yr, 15yr and 30yr match up. So with this next few weeks historically the weakest time of the year for Nat Gas I don't expect a breakout. BUTTTTTTTTTTTT it doesn't matter what I expect. Only thing that counts now is price clearing that downtrendline and 2.91 price resistance it failed to do today and hold above and consolidate. Price is king and that's what must occur to change this game from a bear market to one that has built a base and can rally further.

Messages In This Thread

Sept Nat Gas/ Clobbered at Resistance *PIC*
Re: Sept Nat Gas/ Clobbered at Resistance
Re: Sept Nat Gas/ Clobbered at Resistance/Ceejay