NatGas Week : My Take
MANIPULATION
After the normal looking November NatGas high, a natural corrective downtrend began, soon to become the collapse which initially stalled in December. Relatively strong rallies into early January were negatively punctuated by a bearish pin bar top. Then a more severe downtrend ensued. This was fueled by Biden's late January revelation that new LNG licensing will be restricted – an edict obviously planned for months in advance. The most bullish aspect of near-term NatGas pricing was dealt a knockout blow. Many top shelf analysts were caught off guard, with the exception of some Elliott Wave mavens. My guess is that this market is being driven to extreme lows so that deep pocket manipulators can attempt to monopolize our most viable energy resource. Future details will be documented here. TLT |
Head & Shoulders
Muted (38.2%) Short Cover Rally |
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Saturation : Gas & Gold
Saturation : Gas & Gold
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