Here is todays down move. Notice as soon as we broke $2.70, we re-tested it as resistance, and then dropped down immediately. I also said $2.64 was support [which it provided intraday.. at 2.65.. Next up $2.50.. If we break down.. look out for $2.20 and then $2.00
Today's move was predictable. There are 2 down channels we are trading in. We moved into the lower bound one. [See my chart yesterday.. ] . Do not go long before we break out.
Natural gas 60min.
1998-2000 natural gas chart:
The U.S equity market is going through a 6-month cycle peak.. as explained in my weekend post this is when things will get volatile [as seen in the VIX & natural gas market). There is still a lot of uncertainty left in the markets. I am still undecided on, the next 6 months, where the next trend will exactly be. Therefore becareful on whatever positions your holding.
Good luck guys.
