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TFC Commodity Trading Forum

Re: NG short term/Lee *PIC*
In Response To: Re: NG short term/CJ ()

You just might see NG h12 run up to its falling 20ema and even poke its nose above it like it usually does on a bounce back. A bounce to the 3.47 price resistance which is also its downtrendline and 50ema would be the best place to get short of course but that may not be seen. The only thing with prices falling consistently and evenly with small bounce backs is traders get complacent and then one day right out of the blue price shoots straight up and retraces a Fib 38% of its selloff and blows all the shorts away. Just never know when that will occur but I would guess its overdue. Note the RSI 21 just tagged the very oversold 30 level which doesn't occur very often and can give a nice bounce back in price when it occurs. Also note the postive divergence on the recent new lows on the CCI 20 indicator as well. Not trying to spook you out of your short or anything but just thought I'd mention these things fwiw. I'm just guessing but looking at the chart I would guess everyone and his dog is short this market now.