For the past 5 months NATGAS has been on the receiving end of a terrible beat down.
The current daily cycle peaked on day 3 and looks to have printed a left translated daily cycle low on Monday. Thursday saw NATGAS deliver a declining trend line break. While we would like to see a clear and convincing break, NATGAS is overdue for a daily cycle low.
NATGAS looks to be on week 30 for its intermediate cycle. Monday was the lowest point since the peak in late February. The earliest a weekly swing low can form will be next week. But a new daily cycle will likely mean a new weekly cycle as well.
NATGAS is also in its timing band to print a yearly cycle low. so while no one was looking NATGAS just may have left behind its yearly cycle low on Monday …