Loading ...NatGas Update
I hope someone came along for the ride on NatGas. Sold my position at the open, we have left behind a second DCL that has confirmed a long term YCL. Long term trend is up, but be careful of the volatility! I doubled down on my position at the DCL on Aug 2nd, very happy with a nice 40% gain with HNU. It didn’t follow my green arrow, but ended up much higher!
“confirmed a long term YCL”
I have no idea what a YCL is, but I will go on record here expecting fresh lows by mid/late autumn. Classic EW 4th wave triangle underway since the waterall bottom last spring. Now weekly OB and primed for downside. Probably more whipsaw overall till we get that “OML”. Good luck just the same.
Yearly Cycle Low. For the first time since early July 2022 we have set two daily cycles with higher highs and higher lows. Typically this signals a new yearly cycle, and we are just ended one that was almost exclusively down trending. If we do get a lower low, it likely means another 6 – 8 months of continued down trend. Could for sure happen, I am definitely leaning towards a major low has been left behind back in April (June on UNG).
Good trade Gus
Chaching
Hard to do in NG