For those of us that have been with you for years and for all of
us,
I do appreciate your patience and calm deliberation without much
political commentary. You're both good teachers, and it's been very
fun to watch how you've developed over the years.
Laouuu, When discussing "long term" trend changes it's likely
best to at least consider "long term" charts .... eg weekly or even
monthly patterns over many years. We have seen 3 good months and 9
days of progress in the price of $Natgas, but damn take a peek at
the ten month collapse in 2008 and then consider what's
happened since 2013. Looks to me like we have a ways to go before
calling a "long term" trend change.
Still, as Steve might council, looks like we've got a 9 - 20
squeeze on the monthly charts and if you really want to trade "long
term" using monthly charts, well ..... what's your trigger?
I do see some strong resistance soon around $8 for UNG, where it
meets the down trending 34 week EMA.
However, the 5 wave impulsive move down seems ended in early
2016. So far, the move up seems corrective, so it might be a choppy
move up. To Steve's point, subjective entry is important in playing
this. I still believe percentage wise, this could be a big mover
this year. A 23% retracement can take UNG to 10.
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$NatGas Matt & Steve as patient teachers & Laouuu
Posted by bbaz1 on 9th of Jun 2016 at 04:04 pm
Matt & Steve,
For those of us that have been with you for years and for all of us,
I do appreciate your patience and calm deliberation without much political commentary. You're both good teachers, and it's been very fun to watch how you've developed over the years.
Laouuu, When discussing "long term" trend changes it's likely best to at least consider "long term" charts .... eg weekly or even monthly patterns over many years. We have seen 3 good months and 9 days of progress in the price of $Natgas, but damn take a peek at the ten month collapse in 2008 and then consider what's happened since 2013. Looks to me like we have a ways to go before calling a "long term" trend change.
Still, as Steve might council, looks like we've got a 9 - 20 squeeze on the monthly charts and if you really want to trade "long term" using monthly charts, well ..... what's your trigger?
Thanks for your participation.
Thanks Steve, Matt and bbaz1
Posted by laouuu on 9th of Jun 2016 at 05:09 pm
Thanks Steve, Matt and bbaz1 for the guidance.
I do see some strong resistance soon around $8 for UNG, where it meets the down trending 34 week EMA.
However, the 5 wave impulsive move down seems ended in early 2016. So far, the move up seems corrective, so it might be a choppy move up. To Steve's point, subjective entry is important in playing this. I still believe percentage wise, this could be a big mover this year. A 23% retracement can take UNG to 10.