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I tell ya, if gold and silver take off right here there's gonna be some pissed off shorts running around screaming manipulation
So last week Nat Gas got bad numbers and it tanked, this week bad numbers and it takes off. IMO the numbers don't means shit.
$2.733 confirms bottom, although $2.75 looks better on the chart.
Here's the thing with the NG chart. I do believe and I need to make absolutely sure but a move to either 2.75 or 2.80 will confirm bottom. It may only be .05 difference but in real life it's going to make a big difference in the direction it takes and how long it's going to take to get there.
Your ears must be burning, i've been scribbling on my dwti charts and at this point it has so many lines on it I can't even see the candles, lol. U R 100% correct but I think a little lower. So maybe bounce and the low after the bounce will be the best entry.
IMO it's either going to be $2.75 or $2.80.
UGAZ up close to 25% off the Monday low but it's very very close to breaking out IMO
I'm so lucky I stopped out of that PAL trade.
Them poor suckers that sold that dip have got to be kicking themselves about right now.,
I still think higher, could see 2.643 first, maybe not. Either way I don't think it's time to make the first sell.
NG-Break $2.681 and $2.80 has a legitimate shot.
Over $2.30 opens to door to $3
A little bit more and we're going to break out the top of the channel. WEEEEEEEEEEEE
$2.649 and then $2.681, those are whats standing in our way of a rocket launch. And I mean a rocket launch launch launch
UGAZ could blast off here
I hope you guys didn't dump UGAZ
GREEN
Looks to me like NG weakness got bought quick, fast and in a hurry like,
It's not going to stay down IMO.
I'm worried about it here, MACD is crossing under on the 1 hour. The news yesterday was OK but not sure it warranted what we got. May have sucked in a tons or bulls that will be hating life it drops back down. Just be careful and don't let your position go red.
NG is in a lot better shape than it was one week ago at this time.
So right now Nat Gas we need NG to make OMH at or above 2.593 and we'll be golden.
Nat Gas is in the heart of the target box for a wave 2 pullback. Looking for $2.68-70 as long as we can hold today's low.
10:30, watch for numbers
d/t PAL .0613
XXII on bottom watch. Could already be in so I'm keeping tabs on this one to get confirmation.
I've been watching, have $2.07 as the point it needs to take out before I can start looking higher.
Would be nice to see $2.57NG hold. I have no reason to look lower if we don't break 2.57. $2.552 is 2nd support but right now $2.57 is the best number to watch.
I'm thinking higher for GDX now, as long as $19.70 holds I'll continue to look higher.
Why all the negativity surrounding Nat Gas?
Like I've said many times before Nat Gas and Oil are two different commodities and have different factors effecting price. I simply don't look at them the same way so just because I say something about one of them doesn't mean it applies to both.
You said you missed the bottom of the oil bounce and I posted a chart with a lower target for entry. It had nothing to do with Nat Gas.
SPX target is 2076-52
Go long after the next pullback;)