Natural gas looking at possible trend reversal

Daily Market Analysis 02/14/12

KEY TERMS
OVB Outside Vertical Bar
VRCB Volatility Reduced Compression Bar
STT 1 Trend Based on a Range Violation
STT 2 Trend Based on a Close Violation
RBB Resistance Bollinger Band
SBB Support Bollinger Band

Energies

CLH12:

  • STT 1 Trend is bullish. STT 2 Trend is bearish.
  • New high made today on current move @ 101.84. Upside Target over 105% achieved.
    • March Crude made new three-week highs today before meeting resistance above the daily RBB, triggering over a $1.50 intraday break.
    • This should be looked at as more of a breather as WTI should have no problem going after our target established over the weekend @ 102.44.
  • Projected Daily Range: 1.98
  • Projected Weekly Range: 4.73
  • Projected Monthly Range: 10.15

NGH12:

  • STT 1 Trend is bullish. STT 2 Trend is bearish.
  • Possible STT 2 TREND REVERSAL from bearish to bullish with a close @ 2.589 or higher.
    • Nat Gas moved decisively higher today and is seriously attempting to reverse the Short Term trend to bullish for the first time in 8 months.
    • This market should be traded with a “prove it first” attitude as past rallies have only been good for selling opportunities although a solid 2 week rally could change our stance on the market for the intermediate term.
  • Projected Daily Range: .096
  • Projected Weekly Range: .430
  • Projected Monthly Range: .760

Parrish Hicks Capital Research is a trading technical analysis firm that specializes in WTI. The two founders, Jim Parrish and Kris Hicks, have a combined 38 years experience in the commodity business and in 2011 accurately called both $25 moves to the downside in May and July and the $25+ move to the upside in October. Their trading methodology confirms tops/bottoms, projected trading ranges and projected targets for those ranges. Although their expertise is focused on WTI, they also provide technical analysis on 16 commodity markets including the energies, metals, equity index, currencies, grains, meats and interest rates. You can reach them at Jim@ParrishHicks.com and Kris@ParrishHicks.com. www.ParrishHicks.com.

About the Author
Kris Hicks

KMH is a trading and technical analysis firm that specializes in commodity futures and commodity based ETF’s. Kris Hicks has worked for numerous years in the commodity business and in 2011 accurately forecasted both $25 moves to the downside in May and July and the $25+ move to the upside in October in oil. He also called the all-time high day for gold on Sept. 6, 2011 and forecasted a projected downside target of 1528.10 in March 2012. He was also responsible for projecting the Q2 and Q4 low in the Euro FX to within 13 and 9 ticks, respectively. His trading methodology has a high degree of accuracy which confirms tops/bottoms, projected trading ranges and projected targets for those ranges. His expertise is focused on 16 commodities plus the comparable ETF markets. You can reach Kris at Kris@KMH-Capital.com or visit his website at www.KMH-Capital.com.

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