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Natural Gas

NG, not Coal. Thanks!The big question is what is going on with Nat Gas this year??? The December(Z) contract is still coiling up in a wedge pattern and about to reveal the answer. A closer look at the bullish scenario... It's looking technically hopeful with the 200 Week EMA, $3.00 level, and the bottom of the wedge all lining up. Now the bearish scenario... The RSI could actually be showing that the strength of this trend is toast and it's possible the MACD is over-extended. It would be a good idea to keep a close watch for the whole thing to fall apart, just as bulls are piling in for an anticipated leg up. As of now I'll be looking to buy December(Z) again around $3.00 if a bounce is confirmed and it remains within the wedge pattern.
NYMEX:NG1!Long
by lynaldendips
RIP to the MACD cross BB Trendline Swing TradersThe price gapped by 69 cents. Hard to think there aren't whales having fun fleecing retail or something. I wonder what will happen next with the COT. Actually we just changed month as we were close to expiry. Damn might have been able to profit from the contango. Still funny to see. I wonder how many retail gap traders will furiously short it now. And the short ETFS must be doing great. Maybe Robinhood "investors" will notice big drops and buy the chart without a clue of what is behind it. Depending on the broker people just trade some made up chart that is supposed to look like NatGas and I'm sure some short sellers got ran over. Commodity futures are more complicated than Forex in the sense that you got to watch the expiries. Bigger barrier to entry I mean. If you understand that: - Less is more, - Trading is not rocket science, - You must not overcomplicate your trading, - The best strategy is a SIMPLE one (that you can explain easilly in a few words and took you 15 minutes to put together), - Smart people are at a disadvantage, - The most important part of trading is emotional control (something that sounds like anyone can do it), - You can make 50% in 2 months, - Trading is a new paradigm it's not like other boring jobs where the more you put in the more you get out here all you need is 1 hour a day, - Spend as little time as possible doing research to avoid analysis paralysis, - Rely heavilly on indicators Then you are the smart money and on the road to success and I know some people that would be very happy to sell you a course. Good luck competing against the pros with your simple strategy, low IQ, slack off not a care in the world attitude, and 45 minutes a day. Just something to cheer me up and distract me after I missed buying the pound by a few seconds. Who knows maybe it'll go back to my entry before rallying. Now NG is only in a contango of about 12%, not enough for me to want to exploit if that's even still possible with my broker.
NYMEX:NG1!
by MrRenev