So recently I posted about a potential slight rise in NGAS before a deep correction is due.
Observing this chart, you'll see a break of the trend line and I anticipate a move towards the monthly pivot and then two possibilities could occur, these being:
1.) A bounce is made becoming the higher low before heading North
2.) A slight bounce occurs and then NGAS resumes towards either the missed monthly or weekly pivot
My money is on a resumption of the downside now that we are in the summer months across the main consumers of the NGAS. I am already short with an initial target of 2.5.
For more information, please visit my profile here on tradingview where you can find links to my website for more information on trade setups and so forth!
Observing this chart, you'll see a break of the trend line and I anticipate a move towards the monthly pivot and then two possibilities could occur, these being:
1.) A bounce is made becoming the higher low before heading North
2.) A slight bounce occurs and then NGAS resumes towards either the missed monthly or weekly pivot
My money is on a resumption of the downside now that we are in the summer months across the main consumers of the NGAS. I am already short with an initial target of 2.5.
For more information, please visit my profile here on tradingview where you can find links to my website for more information on trade setups and so forth!
