/NG (natural gas futures or the /QG MINY contract) offers an objective short entry here at the 6.800ish resistance level with targets just above the 6.403, 6.323 & 5.931 (plus uptrend line) support levels. 60-minute chart below.
NG 60m July 14th
Likewise, KOLD (-2x short nat gas ETN) offers another objective entry here around the 23.46 support level with stops commensurate with one’s preferred price target(s) following the quick (2 hr+) 21% trade on Tuesday’s trade. 60-minute chart with (unadjusted) price targets below.
KOLD 60m July 14th
On a somewhat related note, commodity prices (as per the well-diversified Dow Jones-UBS Commodity Index) continue to plunge although the Fed & mainstream media haven’t gotten the memo yet….just don’t tell J. Powell & Co. ;-)
DJP daily July 14th