NatGas
Very Bullish on NatGas longer term but I think it found a short term Trading Cycle top yesterday on day 15. Took profits on Boil yesterday near the close and picked up an initial position in KOLD this morning at the open at $28.05
Very Bullish on NatGas longer term but I think it found a short term Trading Cycle top yesterday on day 15. Took profits on Boil yesterday near the close and picked up an initial position in KOLD this morning at the open at $28.05
Ditto
Good stuff. Helped me zone in on my strategies much better. Thanks.
But longer term don’t you see a downside coming next per my chart above?
Tommy, Yes, NatGas seasonal cycle typically tops out in the Spring sometime. From a price perspective, the downward channel that you have in your chart may not hold if the NatGas bull has resumed.
Pull up a daily chart from late 2015 and draw a line at the highs from early 2016 connecting to this weeks high. If you project that line out to April / May 2017, I show a PO potential of 4.20 to 4.35 on NatGas. Much depends on when the cycle tops (i.e. early or late Spring).
Tommy, added a 3rd chart to my NatGas post showing my Spring PO possibility.
https://surfcity.co/2016/12/01/natgas-cycle/