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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: ajtj99 who wrote (83769)1/29/2024 9:25:12 PM
From: ajtj991 Recommendation

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The Ox

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I looked at March 2024 NatGas futures, and you could make a case for a descending triangle that targets about $1.52, which I recall was an old target Qone0 had last spring.

Trying to get some better understanding of the curve, I looked out to Dec. 2024. That month has about a $0.55 drop from a bearish pennant that targets about $3.00.

My point is that these two months that are 9-months apart are both suggesting very similar drops coming soon. The charts are also suggestive that $3.00 may be a very hard ceiling on continuous in 2024.

What's also interesting is that going into late fall, NatGas holds onto its seasonal premium until around late November, when it either confirms it, or starts bleeding it at a quick pace.

Some additional reasons it's called "The Widowmaker Trade."
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