bearish engulfing candle followed by a bullish engulfing candle.. and now looking like another bearish engulfing candle. can somebody please offer an opinion about what this means from a technical perspective?
Not happy about it but I see it dropping to new lows, we'll see. I got in too early at just under $19 and took my lumps at $18 1/2. I'm out until a true bottom is put in and then I'll look to get back on board. Some have speculated the $10-12 range and I'd be a buyer there for sure. That said, natural gas would probably have to hit lows of $2.50 to $3 for that to occur. Only time will tell but in this unfamiliar economic environment which most of us have never experienced, it's better safe than sorry. Trying to catch falling knives is just to costly and painful.