GDX/MINERS Taken to the woodshed last couple days.. gdx below the 50

Miners, second headfake?

Double top? RSI and MACD divergence with that slightly higher high

Wild moves in gold futures. About 25 points off the highs this morning.

Gold futures Update: has dropped and reaching the bottom trend line. Keep eyes on it. Acting weak 

Futures crushed me last year hurricane season. I feel ya. that said, it does look like a nice spot for a quick short.. maybe double top? 

Gold futures. 2hr and 1hr time frames. Show a diamond like pattern off the drop from the highs. Resistance in the low 1940s and should break out of this pattern soon. Leaning toward a nice flush down. Currently short but keeping an eye out in case it reverses upwards. 

Nice bear flag on natgas futures. 5 min and 15 min time frames 

Great job. I'm short as well right now but in futures. I feel some more downside before we get another run up this winter. thats just my guess though based on seasonality.. todays pop and drop didn't help me feel bullish either. just gotta watch that storm in the Caribbean. they have one scenario headed for the gas rigs off LA coast or headed to Mexico. that can move it for sure so I'm watching. thanks for the chart post

Natgas update. 1hr futures chart.  Just my thoughts on it. This last leg up has been on lighter volume and made a lower high which fits within another potential diamond pattern forming. Money flow is dropping as well. Just seems to be running out of steam. Downside target initially is the 3.74 area and if the diamond plays out would be a bounce up from that area to the 3.85 range and then down to the 3.58 range. All speculation just wanted to share my thoughts. If anyone has any input it's greatly appreciated. 

good possibility.. maybe it tags this winter?  right now the weather is starting to get milder unless we get a couple hurricanes headed to the louisiana coast in the next few weeks and close some rigs.

Yes. Very conflicting. Gold futures have bucked the trend of gdx going down and held steady. Could pop over 1800 sunday evening at the open or another flush. Its a coin flip. I do believe it resolves itself sunday/monday..  

Nice chart.. thanks Roger. Good one to monitor. Guess this takes the place of dgaz/ugaz those things were movers. Natgas is not for the faint of heart. Gotta buckle up and keep your eyes peeled. 

Update on natgas. Drew a couple of trend lines that could be one half of a bigger diamond forming. Which also looks like a bearish pitchfork from the original channel line I had drawn. It can also morph into a reversal diamond but definitely something to monitor if you are trading natgas. If it drops hard below yesterday's low  and then bounces could be a reversal diamond. Just gotta monitor and see what forms. I play it long and short. Any feedback is welcomed. 

Zoomed in view of the 5 min chart. Exactly tagged that upper channel line and has slowed momentum. Objective short area if it decided to reverse and head back to the lower channel line shown in my previous charts. 

For those natgas guys. Let's see how the price reacts off that trend line it's approaching on futures. Right around 3.84.

For those of you following natgas. I drew in a channel the other day it seems to be respecting for now. Also a diamond continuation pattern zoomed in on the hourly. These are from my cell phone since I just trade futures on the side. Anybody see anything interesting considering natgas let me know. Very weather related for sure. Tropics are quieter right now with cooler weather predicted through end of the month. My near term downside target is 3.697.. Any feedback is welcomed. 

Gold futures getting comfortable under 1800 for now. 

LEDS on fire.

Some good negative divergence on multiple timeframes on this last push up in gold futures. May be getting tired around here. 60 min is very noticibale.