Natural Gas ($NATGAS) surged on Thursday on the back of the inventory data. It was a huge thrust. After breaking through the 4-week downtrend, Natural Gas looks strong here.
Checking in on the daily chart, the price closed up 8% yesterday. Natural Gas appears to be entering a new bull market based on the RSI on the weekly in Chart 1. This new thrust should be the initiation of a new run higher.
On the webinar, I spent lots of time on one segment discussing the strong stocks related to energy and demonstrated a method to look for and find the top performers.
Commodities Countdown LIVE! with Greg Schnell - 2016-07-28 17:00 from StockCharts.com on Vimeo.
Webinar // $CRB & Components 0:00 //XLE & Energy 15:00 // $NATGAS 18:00 // Uranium 20:00 // Gold & Silver 21:00 // Ag 23:00 // $TRAN Components 25:00 // FAN And TAN 27:00 // $NIKK Concerns 30:00 // Financials 32:00 // USA & Cdn Energy Stocks 35:00 //
Gold continues to rally as discussed on Tuesday.
I closed the webinar suggesting that $NATGAS could be the biggest opportunity out there and half the webinar was spent reviewing strong performing energy stocks. If you are interested in trading Natural Gas related stocks, you'll want to watch the webinar for ideas. Commodities Countdown 2016-07-29 Webinar.
I always appreciate feedback on the webinars and charts, particularly when investors find some nice trades that the webinar led them to. The feedback from Thursday's webinar was extremely positive and some strong thanks for helping them find some great trades during previous energy focused webinars. That's rewarding for me.
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The Canadians are celebrating the August long weekend on Friday through Monday. Safe travels!
Good trading and enjoy your weekend,
Greg Schnell, CMT, MFTA
