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If you are right then the channel will break down, I will exit my long and enter a short. Till then, it looks bullish. No such thing as a crash until it does. :)
Bouraq, I'm sure that you noticed that sugar closed it's contract rollover gap today (to the penny). It may rebound from here, but I can also see a possibility of it moving down to ~14.95 first. What do you see ? Natural gas also reversed at a channel line this morning, and should now target 4.00 and possibly 3.60.
Hi Peter. Yes I've noticed that. The lowest I see for sugar is 15.25. It's within a declining channel from the recent top so as long as it doesn't break up we can see lower prices from here. 14.95 is probably too low but possible of course. I don't expect another major low.
For natgas I see 4.5 in the picture before turning back down. I will post the chart when I have the chance.
No such thing as a low risk buy like you stated on spx chart, we are closer to crashing than ever before.
ReplyDeleteIf you are right then the channel will break down, I will exit my long and enter a short. Till then, it looks bullish. No such thing as a crash until it does. :)
ReplyDeleteWell said.
ReplyDeleteBouraq, I'm sure that you noticed that sugar closed it's contract rollover gap today (to the penny). It may rebound from here, but I can also see a possibility of it moving down to ~14.95 first. What do you see ? Natural gas also reversed at a channel line this morning, and should now target 4.00 and possibly 3.60.
ReplyDeleteHi Peter. Yes I've noticed that. The lowest I see for sugar is 15.25. It's within a declining channel from the recent top so as long as it doesn't break up we can see lower prices from here. 14.95 is probably too low but possible of course. I don't expect another major low.
ReplyDeleteFor natgas I see 4.5 in the picture before turning back down. I will post the chart when I have the chance.