A
lot of North American natural gas producers had a pop last week.
The
big question here is, was the advance just a sucker rally or, are we into the
early stages of a new bull market in the natural gas complex?
Our
weekly plot of a continual the natural gas (NYMEX) futures is clean with no
technical studies except a relative spread vs. a crude futures contract. Now
aside from the current improving relative perform vs. crude, there is a very
important reversal pattern which I have not identified.
Two
questions: – Can you spot the pattern and what investment decision would best
take advantage of this chart? I will refresh in two days.
PS: Take a look at a Jr. gold miner vs. GLD chart
Posts
2 comments:
Good evening Mr. Carrigan,
I will propose the important reversal pattern is the double bottom at approx. 3.10$ in January & February, not necessarily the Inverse Head & Shoulders in the Spring of 2012. A potential way to play it would by and ETF like the HNU.
PS - But then, again I overstayed the gold party and it has not been fun.
Looks like a cup and handle formation. What did I win for that?
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