I think it's time for a correction, after the price dropped over 34%. We have a good divergence between price and RSI. There is also a OPEC`meeting. Certainly they`ll produce some other good news.
It looks as the price is forming an rising wedge. If so, important levels of resistance will be 63.20, the price has to break the trend line
I think it's time for correction. Will the price fall to the first green line of resistance, about 59.50 or will it be deeper to the second blue line of resistance to about 54.50? Indicators suggest this and we have a level equal to the resistance level of May 2015.
Oil forms a symmetrical triangle. The new target is equal to the base of the triangle 6.30-6.35
OIL go down next 2 weeks . The last 7-10 days before OPEC meeting go back up.
NG - possible rise : 4h - RSI 30% and devergance - Stoch - cross Target 3.05
NG cash-short to 2.72-2,70 and winter - long to ???
Hope this is a good opportunity for a long, the NG is drawing a good devergency. RSI /14/ is oversold. CCI is near to buy zone.
The price is repeated 10 months ago - June, July, August 2016. At the end of May 2017, the price should go to 3.00 /FIB-61.8%/ And then continue up.
NG go to 2.92 - 50% FIB/ or to 2.82 / 61% FIB/ and than the wave C
NG 4h - devergence on RSI Go to 2.47 /50% FIB/
NG go to 50% FIB where has resistance , and than go UP Careful - to 23-feb the price is still Mart 17.
1. Correction to 3.45 - 3.50 (50% FIB) 2. Short to 2.70