OK, I was bullish on NG a few weeks ago based on the positive divergence and confluence of two trend lines which did work for the bulls. The technical set up has come and gone…
Now, I am seeing a negative divergence; however, the price action is right above the diagonal trend line which currently is support. The negative divergence can be negated and can continue the trek higher. So this trade is not as “easy” as the previous few weeks. The blast of cold weather could send NG higher? My advice to those who insist on trading NG, use the 60/120 charts and hang on as long as the 13/34 EMA allows…
Once I get out of my shorts, plan on focusing on other trades. I.E. PMs and even shorting WTIC.
PMs are looking really good at the moment…