NATGAS has been volatile over the past 2 weeks and it appears that a cycle top has formed.
Wednesday was day 17 for the daily cycle and NATGAS left behind a long upper candle wick. Thursday a swing high formed. And Friday saw NATGAS test the daily cycle trend line. A break below the trend line confirms a daily cycle decline.
The weekly charts shows that NATGAS has left behind two bearish topping candles in a row. A break below 4.74 forms a weekly swing high. And a break of the blue (dashed) trend line confirms a weekly cycle decline. Please notice that the weekly True Strength Indicator is about to deliver a weekly trend line break.
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