Wednesday, December 16, 2009
Wednesday Commodities Round-Up
Click for a larger image.
Notice the overall trend of natural gas has been down for some time -- as in months. However
We may be seeing the bottom of the trend.
A.) Prices have clearly reversed. They have moved though all the EMAs and are now above them all. Also notice the 10 and 20 day EMAs are rising and the 10 day EMA has moved through the 20 day EMA.
B.) Momentum is increasing. However,
C.) We've not seeing a big move in the A/D line, indicating we have yet to see a big influx of capital into the market.
Note that on four other occasions this year prices have been at this level only to be rebuffed.