#NATGAS - Surely not?
Updated
Hi all!
This chart is pretty self explanatory and tells a lot of potential stories.
As we all know, NATGAS is a beast of it's own and often technicals are embarrassed by NATGAS movements.
But considering inflation, whispers of war, absurd weather, perhaps this isn't as crazy as it sounds.
Anyhow, I really wanted to put this out there as a lot of technical indicators are suggesting a bull run.
Weekly and Monthly RSIs are both towards oversold and the current political and economical situations point at a commodity bull run, especially is Oil and NatGas.
This chart is pretty self explanatory and tells a lot of potential stories.
As we all know, NATGAS is a beast of it's own and often technicals are embarrassed by NATGAS movements.
But considering inflation, whispers of war, absurd weather, perhaps this isn't as crazy as it sounds.
Anyhow, I really wanted to put this out there as a lot of technical indicators are suggesting a bull run.
Weekly and Monthly RSIs are both towards oversold and the current political and economical situations point at a commodity bull run, especially is Oil and NatGas.
Trade active
NATGAS has seen huge selloffs recently and it has developed a bullish flag as a result.
With the positive RSI divergence in place, I believe this might be the bottom.
I've position myself with a buy, with a pretty tight stop loss. First target is @ 4.45
Trade active
Has made enormous movements to the target, looks like it is taking a breather - perhaps because one of the most industrial countries in the world (china) is forcing itself on a lockdown/
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