Wednesday, August 12, 2015
Natural gas… no doji today
Natural gas rallied today as I was hoping for a bearish candle would form. Very possible that tomorrow could set up the bearish candle as we have thrown over the downtrend line of the wedge pattern which is common in this formation…let's see how we play out!
Sugar…descending triangle
Has sugar finished the c leg of a contracting ending diagonal or do we see 10.20-10.00 before the d leg up? I was hoping to get to the 10 mark as that would be a perfect ABC for the C leg to finish. A relief bounce then the final push lower to around 8.50-8.75. ( this happens to be the long term trendline!) Keep watching here as this should be a great long term trade arising.
Natural gas… topping at 2.878?
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