Sentiment: Buy on Pullbacks/wait for the breakout
However, we are still in a downtrend, so take caution.
CHART
August 17th Update, 5:53 AM
I posted this picture because it looks cool, however, I do not think we'll have another Black Tuesday.
Equities tumbled after a government report showed Japan’s economy grew less than economists estimated in the second quarter, reigniting concern that a five-month, 52 percent rally in the MSCI World was overdone. The tally of failed U.S. banks this year climbed to 77 last week, while the Reuters/University of Michigan preliminary index of consumer sentiment in America showed an unexpected decrease.
If U.S equity were to enter a new downwave, then Natural Gas could see the 2.50-2.70 area.
The 60 min chart updated at 6:20 AM today.
Peace, and good luck.
I won't be in to answer questions about U.S equities/natural gas until 6:00 PM, sorry.
.....
We are up and live.. trading at 3.1750
Sudnay 6:11 PM update for natural gas:NGU9 Natural Gas 3.1750 -0.0630 -1.9460277 3.2380
This update will be quick.As I have mentioned previously, 3.19 was a target of which I derived from charts (check previous posts).We are in PM futures, so anything can happen. I really do hope we open at around 3.10tomorrow. That would be a perfect buying opportunity. Anything from 3.10-3.20, I will buy with HNU. I am looking to go long at <$3.50 on HNU.TOMake sure you place appropriate stops when trading. I am entering a trade in a downtrend, so it is important to note, ANYTHING CAN HAPPEN. WE COULD FALL ANOTHER 5-10% BEFORE THE TRADE BECOMES PROFITABLE.Place the sell stops before you even place the darn trade!Good luck tomorrow.
