The Natural Gas futures contract has been on a bearish tear lately, dropping steadily from the $4.80 level down to the current area of $4.30. However, the commodity is now winding up for another potential breakout opportunity, which could spark the next big move. Here’s why..
After reaching our $140 target a little over a week ago, First Solar ($FSLR) looks poised for another big breakout opportunity – one that could move price over 10 points!
I wrote about a great PEMA sell signal in Barrick Gold Corp. ($ABX) on July 23, which worked out perfectly. This time, however, I head straight for the source, as Gold futures looks poised to head lower over the next three to four days.
The market is clearly winding up for a major breakout opportunity, as evidenced by the 1,000 point triangle that’s building out in the $DJI. I’ve got three stocks to watch that are poised to move once direction is decided.
The ES played extremely well off our Action Levels yesterday, as two decent sell opportunties led to moves of 12 and 9 points. Given yesterday’s relatively quiet trading day, we could see another explosive breakout/trend day upon us. Let’s take a look at the levels to watch for today’s trading.
