Thank You!!!

Sure. In fact, I just finished a video in which I covered /CL. I was away from my desk most of the day yesterday so my apologies for missing your chart request. In fact, I’m kicking myself for missing today’s objective entry on /CL as it hit an key uptrend line that I was recently monitoring while at oversold readings that have historically been followed by reversals.

As I said in the video which will be out soon, I missed an objective entry on /CL as it has already rallied up to what would have likely been my preferred target around 57.50 (resistance). As such, I don’t see an objective entry on /CL right now other than maybe a fairly aggressive short-entry just below 57.50 with a stop not far above for a quick pullback trade targeting around 56.10.

Great question. I closed my dwt position yesterday as I was unsure if we still had hourly negative divergents

Thank you Randy for your input.
To get in a swing short, at least yesterday we had the first sign of selling during the NY time hours, which is important to me. Without big institutions selling, we won’t drop too much. Gapping down today, they’ll probably want to close the GAP and maybe a 10am reversal could make the price drop in last week’s lows level ~8200.

In this case, I don’t see as many clear resistance levels spaced apart far enough to identify each of the levels were a reaction is likely & that is reflected by a higher than usual number of resistance levels overhead in close proximity. However, I placed the arrow breaks where it seems the odds are best for any reactions. Also, keep in mind that /NG was trading at that first target/resistance zone when I took that screenshot so a reaction there was likely & so far, that has been the case with /NG pulling back since.

If I had a higher degree of conviction on A) whether /NG is going to rally substantially from here and B) to what levels, I would add UGAZ as an official trade but for now, I think the technicals & case for a rally were/are worth passing along for those interested but as with any trade, it either pans out or not & the key with NG is not to get married to a position & hold onto it beyond any reasonable stops as NG tends to either make you very happy, very fast or the other way around.

No, I was away from my desk most of the day yesterday and for now, just watching /NQ as we don’t have any decent evidence of a reversal or sell signals yet to justify a swing short position & with volatility as extreme lows with very little range in the daily price swings on the indexes right now, the indexes are not very conducive to day trading either. Maybe soon as from periods of extremely low volatility often come the biggest moves in the market but this can last for a while.

Sure. First, the weekly NG reports are an unavoidable factor when trading NG & with only one of two options regarding a position: either close it out before the report (or set a relatively tight stop although that can trigger well below the stop price when/if NG drops very sharply after the report) or close out the position.

Sometimes the reports are a non-event, with very little movement in NG afterward & other times they are followed with immediately & explosive rips or dips. As with earnings reports on stocks, it has been my experience that more often than not (which is far from “always”) the direction NG will take after the report (barring the sometimes very brief knee-jerk reactions) is indicated by the charts IF & ONLY IF the technical posture was clearly bullish or bearish heading into the report.

As far as listing to the hype, I can say that the markets do a pretty darn good job of pricing in all known variables. I usually tune most of that out as ‘noise’ but it seems to me the latest buzz is talks of a warmer than usual winter. If so, then there is a good chance that is already fully or mostly priced into NG, other supply & demand dynamics factored in. Also, keep in mind that NG prices are more volatile than most other commodities due to unique factors that can rapidly shift the supply/demand dynamics.