XNG Natty Gas Index Daily Chart Overbot Rising Wedge Negative Divergence

XNG Natty Gas Index showing topping behavior. All the things you do not want to see if long; overbot conditions, rising wedge and negative divergence. This is the daily chart and the weekly chart shows negative divergence across the board as well. In addition, ADX shows how strong the trend was in XNG thru early March but over the last three weeks, the strong trend is gone. Pull out your trumpet and play 'Taps', this one is taking its last breath.

Possilbe H&S pattern may form moving forward, pink lines, so this needs to be watched for a right shoulder after it does the intial sell off from the head. If the head is 700, neck line is 640, that is 60 difference, so target for a potential H&S is 580, critical horizontal support. Perhaps that will be the summer target but one step at a time and in the days ahead, XNG price needs to receive a spank down first. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.