I think this is what is going to happen. Not only due to wyckoff distribution reasons, but also because some major bears have started to capitulate on natural gas.
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Well moment of truth. Just like you see on that picture, what we need to wait for now is a little push up and a retest of the support we're currently on.
If the support holds I will add more to my long positions and watch it rip higher.
If the support holds I will add more to my long positions and watch it rip higher.
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Looking for price to retrace about 12%-15% from this high, which coincides with demand zone, support and the golden fib ratio. That will be the level I will add 2x more to my longs.
If this indeed is the bottom we're looking at anywhere from 80-150% bull run so you won't miss out. Just pick your entries.
If this indeed is the bottom we're looking at anywhere from 80-150% bull run so you won't miss out. Just pick your entries.
World Meteorological Organization (WMO) predicts 2023 will be one of the hottest years on record, so there goes the demand for natural gas in the use of AC.
Anyway, lots of things lining up for natural gas to reverse, we just have to be patient.