NatGas - I know what you bought this summer
Updated
A few important happenings in NatGas today, so I decided to update.
First of all the first daily cycle is right translating:
From this point we can be sure :
ICL was on the 5th of August.
The probability is high we printed a multi year low ( probably a 3 year cycle low) I've mentioned this in a previous idea:
The first daily cycle low occured on the 11th August:
The first daily cycle run for 49 days with a peak on day 31. We are day 17 today.
We are still early in this daily cycle and already broke above the 200 SMA.
The second daily cycle usually run for 60 days and the peak usually comes on day 40-45.
So we have minimum 2 maybe 4 more weeks before this daily cycle tops.
After the 2nd daily cycle i can predict how far this whole intermediate cycle can rally.
This might be the best 3 weeks in NatGas this year . Noone can predict how far this
cycle going to run:
Maybe only breaks 3$ and tops there ..
But we might tag the 2019. January high at 3.735$.
The 2nd daily cycle could look like this:
ANd after this 2nd daily cycle there will be one more daily cycle ...
The RSI just got overbought and it's starting to print the 2nd daily cycle 's overbought zigzag.
First of all the first daily cycle is right translating:
From this point we can be sure :
ICL was on the 5th of August.
The probability is high we printed a multi year low ( probably a 3 year cycle low) I've mentioned this in a previous idea:
The first daily cycle low occured on the 11th August:
The first daily cycle run for 49 days with a peak on day 31. We are day 17 today.
We are still early in this daily cycle and already broke above the 200 SMA.
The second daily cycle usually run for 60 days and the peak usually comes on day 40-45.
So we have minimum 2 maybe 4 more weeks before this daily cycle tops.
After the 2nd daily cycle i can predict how far this whole intermediate cycle can rally.
This might be the best 3 weeks in NatGas this year . Noone can predict how far this
cycle going to run:
Maybe only breaks 3$ and tops there ..
But we might tag the 2019. January high at 3.735$.
The 2nd daily cycle could look like this:
ANd after this 2nd daily cycle there will be one more daily cycle ...
The RSI just got overbought and it's starting to print the 2nd daily cycle 's overbought zigzag.
Note
We are in +5,6% today. UGAZ might print a 20% day ending at 20,5$.Note
UGAZ + 15% so far.Note
One more green candleNote
One more +10% day in UgazNote
Breakout backtested:
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