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Re: July Nat Gas/Haligonian *PIC*
In Response To: Re: July Nat Gas/Trades ()

Here is GLNG that doesn't care about the price of NG. It just ships the stuff. I like it's attitude towards NG.

And yes the RSI 21 and the Modified MACD did show positive divergences on the last bounce off the 4.00 lower channel line support. But that only suggested a rally of some kind which it's had. Notice the channel from 7.00 to 6.00 broke down and then the channel from 6.00 to 5.00 broke down and now price is in a channel from 5.00 to 4.00. So while a channel suggests consolidation and base building it doesn't guarantee a breakout on the upside. In fact technically if a channel develops after a major selloff the odds are 75% of it breaking down not up. And if a channel develops after a major rally it is a consolidation period within an uptrend and the odds of it breaking out on the upside are also 75%. So the odds are against a breakout on the upside. But at 4 bucks one would 'think' NG is due for a trend change. But proof is in the pudding and until price clears and holds above 5.00 it is still in dangerous waters and bearish. The BOOGEYMAN is still spooking this market and keeping a lid on it all. Notice price did poke its nose above the line and drive a hole in the Boogeyman so may have set the stage for another rally now that it has shown it's not afraid anymore. Falling Oil prices won't help the NG cause unfortunately. Gotta see price above 5.00 to suggest anything really positive ahead.

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Re: July Nat Gas/Haligonian *PIC*