XNGUSD ready to reverse recent downtrend LONG
XNGUSD has been on a long downtrend. On the 1 H Chart,
a falling wedge is seen awaiting a breakout. Moving Average slopes are
decreasing their negativity towards zero. ATR / Volatility is decreasing
as is the downtrend momentum on the average directional index indicator.
I see this as a long swing trade setting up for forex or alternatively
a natural gas ETF like UNL / UNG or a natural gas stock like LNG. This
trade would be propelled by the dollar losing strength, inflation being
sustained, WW III in Europe continuing and the weather turning cooler the
remainder of the winter.
a falling wedge is seen awaiting a breakout. Moving Average slopes are
decreasing their negativity towards zero. ATR / Volatility is decreasing
as is the downtrend momentum on the average directional index indicator.
I see this as a long swing trade setting up for forex or alternatively
a natural gas ETF like UNL / UNG or a natural gas stock like LNG. This
trade would be propelled by the dollar losing strength, inflation being
sustained, WW III in Europe continuing and the weather turning cooler the
remainder of the winter.