This is a follow up from the Oct.23rd post (if interested see link below). We did get a good bonce up after that post but pride than dropped back to what appears to be be a support resistance level. We now have a positive reversal in the daily RSI followed by a bullish divergence in the daily RSI. This combination frequently leads to a rise. It correct I would expect the near term price not to close below 4.75 labeled "b".
Notice the recent 5 wave expanding triangle on the daily chart labeled a-b. There is also a 5 wave contracting triangle in the daily chart from September-April labeled a-b and another labeled A-B. Triangles most commonly occur as the B wave of an A-B-C correction or at wave 3 of a 5 wave impulse series. (EWT)
Notice the recent 5 wave expanding triangle on the daily chart labeled a-b. There is also a 5 wave contracting triangle in the daily chart from September-April labeled a-b and another labeled A-B. Triangles most commonly occur as the B wave of an A-B-C correction or at wave 3 of a 5 wave impulse series. (EWT)
Nota
I personally do not trade in futures. For this expected move I’m looking at UNG, EQT, and SWN
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.