NatGas UpdateCompared to the forecast we published two weeks ago, the natural gas prediction turned out to be 100% accurate. A comparison of the 1 hour charts is shown below.
Though I was able to accurately predict the exact shape of the recovery from the recent low, I was uneasy about the longer-term outlook.
On daily chart I repeatedly expressed my discomfort with the lack of divergence versus RSI and the lack of ending/terminal patterns on multiple occasions. Now I am reinstating the case with terminating diagonal that I introduced much earlier.
In doing so, the chart will have a more natural appearance and address the issue of the RSI divergence versus the price not being present on the chart yet.
Go to signature for further details.
