BOIL is not in a decent buy zone having breached the 1.618 X and stretching into the lower trendline. I like it long for a bounce here. Follow NG futures for touch of 2 as well.
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A look at NG futures
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*** I meant to write 'BOIL is in a decent buy spot." ***
We did bounce just like you said , i wonder if we go higher or lower again ???
elenaec
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is it going down to 2-2.5 dollars ???
WadeYendall
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@elenaec, This a an old post looking for bounce out of the green box which already happened. The 2 dollar level was in reference to the NG futures contract which was trading at 2.13 at the time. Contracts have rolled over so the price is now adjusted to 2.20 even though it is lower. BOIL actually looks like it due for another bounce as it touches the lower trend line here.
elenaec
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@WadeYendall, I totally agree is due for a bounce up , and others think so too , thank you !!!