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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: excardog who wrote (25822)	9/21/2003 12:55:42 AM
From: t4texas	Read Replies (1) of 206272

considering your request to be patient and to wait for those injection numbers, i would say that this chart agrees to wait and be patient. this weekly set of trends of the xng says it won't be long until it breaks nice and hard either up or down. it's a long term converging triangle whose original lower leg (the green line)trend line was doing nicely when greenspan spoke and up it went to about the 200 resistance line and could not hack it. it broke down, and has reconstituted a trend that is fast approaching decision-time at both resistance and support. isn't it interesting that such a decision point should occur with the end of shoulder season coming soon! i think it is also interesting that since october the xng has spent almost all its time above its 10 week (about 50 day) ema. that's a good thing, and if the xng breaks to the downside, it will have to break that moving average again. what do you think will happen to ng prices if the price of crude oil keeps coming down to $25 and even breaks to $20? how much impact would that have on ng prices this winter? stockcharts.com[e,a]wacanyay[df][pc10!c50][vc60][iub14!uh14,3!ll14][j17803001,y]&listNum=2

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