12631 Trading Service member “makereturns” point out in our chat room this morning that there is a large inverse head and shoulders bottoming formation in natural gas futures. As you can see below on the daily chart, courtesy of finviz.com, price really needs to hold this level for the patten to have a chance.
Natty has been left for dead by many, with many a bottom-picker either forced to quickly stop out, or suffer a nightmare trade. Let’s see if this is the real deal, and if the right shoulder can round out and scream up past the neckline.
5 Responses to Let’s See if This Head is Any Good
I was looking forward to a picture
Lol, Me too, That’s why he only got a thanks…
hearing a lot of banks forcing producers to hedge in order to maintain LOCs etc. – bottom has to be in or close
Yeah, $2 natty seems ridiculous. But as the saying goes, the market can stay irrational…