Cycle Trading: Is Natgas Ready To Ignite?
|Natgas printed its lowest point on day 31, placing it in its timing band for a daily cycle low. A swing low had already formed. Natgas closed above the 10 day MA on Tuesday. Thursday’s big gain caused the 10 day MA to begin to turn higher which helps to confirm the new daily cycle. However Natgas remains emains contained by the declining 50 day MA.
And since Natgas lost the 50 day MA back in December of 2018 - it has been contained by the 50 day MA. Natgas will need to break convincingly above the 50 day MA in order for a bullish trend to develop.
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