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You're welcome Lambert. Looking at the slope of the channel the gap fill would already break up the declining channel even if it rallies very swiftly from here. You need to consider the speed of the rally and watch where it may hit the upper band of the channel. The thing is next time the upper band is hit will be the 4th hit so it may as well break it up without any hardship. I don't think it will decline much more than here before a rally to fill the gap.
Hi Bouraq, Thank you for the charts! What is the upper band price target you mention on the NATGAS? 3.444 gap fill area?
ReplyDeleteYou're welcome Lambert. Looking at the slope of the channel the gap fill would already break up the declining channel even if it rallies very swiftly from here. You need to consider the speed of the rally and watch where it may hit the upper band of the channel. The thing is next time the upper band is hit will be the 4th hit so it may as well break it up without any hardship. I don't think it will decline much more than here before a rally to fill the gap.
ReplyDeleteNatural gas futures we see a historic historic move to upside 5to above7 it will be commodity if 2015
ReplyDelete