on the daily time frame a head and shoulders pattern is forming. on the 1hr time frame natural gas broke the up trend, and is need for a correction. there is a regular bullish divergence forming on the 1hr as well. A regular bullish divergence indicates a bull back in the market. This is about a 100 pip move, looking for price to go back near the trendline.I am looking for an entry after this pull back, may not be ready until London X New york session.
The market calmed a little when there was a discussion about releasing oil from storage in a bid to mitigate supply disruption. The release may be between 60 and 70 million barrels of oil. The EIA (International Energy Agency) is set to hold a meeting today 03/01/2022 about roles members can play in stabilizing oil markets
The market calmed a little when there was a discussion about releasing oil from storage in a bid to mitigate supply disruption. The release may be between 60 and 70 million barrels of oil. The EIA (International Energy Agency) is set to hold a meeting today 03/01/2022 about roles members can play in stabilizing oil markets