Natural Gas ($NATGAS) has been oil's partner trending down as they continue to get rejected at higher levels.
Today Natural Gas ($NATGAS) is testing the lows it made in December. If you like trading tests of prior lows, today is your day to look at the retest.
This will be important for $NATGAS as it will be the lowest monthly close in 16 years. This is only for the quickest of traders. I am not so sure that the lows in Natural Gas are in, but this is an important retest. We might also get a spike down like we did in December taking out the lows in a big way, only to reverse and go higher. If you are looking for drama and volatility, check the Natural Gas related ETF's.
I'll be hosting the Martin Pring webinar Tuesday, March 1 at 5 PM. Click on the link to register. Martin has a lot in store for us as he has just compiled his month end newsletter available as a subscription at pring.com. He'll be sharing his thoughts on the US Dollar, the credit markets and more.
On Thursday, March 3rd, I'll be doing a specific Commodities Countdown webinar on getting ready for the lows in the energy sector. While we don't have a date for the lows to be in, we need to be ready to see the turn. This webinar will focus on setting up simple chartlists, setting up scans, analyzing the data, setting alerts so you catch the move and how to make sure you are positioned to make some significant returns as the market recovers. Click here to register for the Thursday March 3 Commodities Countdown webinar. If you missed the move in Gold as it happened, this webinar is for you to make sure you realize the value of your subscription at StockCharts.com.
Lastly, I posted a long blog article on Commodities Countdown. Oil And The Dominoes 2016. This is a very important article in how I view the markets. This article also received more feedback through the comment section and direct emails. I would encourage you to click on the link and read the article. If you want more articles about my views on Commodities and the global market picture, I would encourage you to subscribe using the Yes button at the bottom of that article. Each blog chain is independent. You will need to link to each different blog using the Yes button.
Lastly, you can follow me on Twitter @schnellinvestor and on LinkedIn https://ca.linkedin.com/in/greg-schnell-40730544.
Good trading,
Greg Schnell, CMT
