Thursday, December 29, 2016

NATURAL GAS YEAR END REVIEW 12/29/2016



WEEKLY TIME FRAME
- NATURAL GAS PRICES HAVE LIFTED OFF ALL TIME LOWS
- PRICE HAS CLIMBED THROUGH LOWER $2-3 RANGE
- PRICE HAS CLIMBED INTO $3.75-4.75 RANGE
- NEUTRAL SCENARIO IS TO BRIDGE THESE TWO RANGES
- BULL SCENARIO, CONTINUE TRENDING LONG


DAILY VIEW
- PRICE HAS CLEARLY ENTERED HIGHER PRICE RANGE $3.75-4.75
- DEFAULT TREND IS LONG
- TIME TO OBSERVE PRICE ACTION FOR POSSIBLE FLIP





30 MINUTE VIEW
- PRICE HAS RALLIED 6 STRAIGHT DAYS (DUE FOR A FLIP?)
- PRICE CLEARLY INTO HIGHER PURPLE REGION
- OBSERVE HOW CLOSE PRICE RESPECTS THE SMA 80
- DEFAULT TREND IS LONG
- WATCH FOR  ROUND TOP FLIP