As I pointed
out in previous post, the direction of the commodity was clear:
support 3.92.
This week, after a rebound from the aforementioned
support, the NG was rejected down by the minor resistance 4.
Weekly
close under support, and full-blown downtrend.
Be careful because
the area is electrical.
Weekly chart.
After the steep descent in July 2008,
the rebound from support 3,25, with adjoining HL, seemed to have
given new strength to the buyers.
However, the thoughest obstacle was in
the 4,40 area.
The violent bounce down in early
February, however, has revived the downtrend.
Now the commodity is below the
psycological threshold $4, and very close to support 3,92.
This is an area much power.
We'll see what happens.
Chart daily.
just a weekly impression on S&P500, XAO, FTSE100 indexies in my blog:
http://starman45-finanzaepoesia.blogspot.com/
As I pointed
out in previous post, the direction of the commodity was clear:
support 3.92.
This week, after a rebound from the aforementioned
support, the NG was rejected down by the minor resistance 4.
Weekly
close under support, and full-blown downtrend.
Be careful because
the area is electrical.
Weekly chart.
just a weekly impression on S&P500, XAO, FTSE100 indexies in my blog:
http://starman45-finanzaepoesia.blogspot.com/
Bullish candle, this
week.
But too much against
the trend.
The week ends just
below the area of minor resistance (and psychological level).
Immediate trend still
bearish.
To return to bullish , it is necessary that the
psychological level 4 becomes a strong support.
just a weekly impression on S&P500, XAO, FTSE100 indexies in my blog:
http://starman45-finanzaepoesia.blogspot.com/
As expected, the rise of
last week had no effect bullish.
This week there was a
strong bonce down with close below support 3,92.
The sellers are directed
to 3,7.
Weekly chart.
just a weekly impression on S&P500, XAO, FTSE100 indexies in my blog:
http://starman45-finanzaepoesia.blogspot.com/
During this
week, we have witnessed attempts by buyers to exit the range.
At the time
failed attempt.
We are still
in downtrend.
just a weekly impression on S&P500, XAO, FTSE100 indexies in my blog:
http://starman45-finanzaepoesia.blogspot.com/