XNGUSD Looking for Bullish continuation LONGXNGUSD is still in oversold and undervalued territory as demand may be mitigated
by anticipation of milder weather and supplies seem to be more than adequate. XNGUSD
may move higher if either of those factors changes. The chart shows price about 15% above
support and about 60% below heavy resistance. The RSI indicator shows the faster RSI line
above the 50 level and so I think the bullish move is supported by buying volume. I will take
a long trade on forex and in UNG / UNL on the equities market.
Longnaturalgas
BOIL trends up continuation expected LONGBOIL is here on a 30 minute chart. It has reversed this week and ascended 13% with a double
bottom at 13 and 13.25 forming a resing support trendline. Volumes changed from selling
to buying. Price bounced off the ATR- stop loss in its pullback and now appears poised to
break through the moving average channel and get support after that cross-over.
I will take a long trade here with a stop loss of the pivot low of 14 while targeting the
upper boundary of the Keltner channel at 15.25 for two-thirds the position with the remainder
to run to try to reach 37 , the pivot high of January. As a leveraged instrument, BOIL is very
volatile and needs extra care in the trade.