NatGas

Several bullish uptrends of varying degree are driving this rally, favoring bullish bets over the near term. Yesterday's upside penetration of the 4.640 midpoint resistance shown was sufficient to tip the odds in favor of a continuation to at least 4.790, a Hidden Pivot target associated with the midpoint pivot. If you're looking for a way in, I'd suggest using uptrending patterns on the 5-minute chart or less.  Yesterday, during a 'co-op' trading-room session, we found a very low-risk entry opportunity on the 15-second bar chart. The rally failed, but there was nevertheless a profit to be had by trading what little upside followed the pattern's minor entry signal. ______ UPDATE (11:45 p.m.): The futures recovered sharply from yesterday's whipsaw low, so the 4.790 rally target still looks great. _______ UPDATE (June 10, 12:56 a.m.): Despite yesterday's sell-off on a bull-trap opening, the 4.790 target will remain viable unless the point 'C' low at  4.489 (5/30) is exceeded to the downside.  If you want to trade with a bullish bias, I'd suggested doing so using an ABC-type rally that has exceeded the 4.640 midpoint pivot.  _______ UPDATE (June 11, 9:35 p.m.): This week's steep retreat from a 4.743 high that fell a tad shy of our target is short-term bearish. A bigger picture still yields a bullish target at 4.881, provided this correction goes no lower than 4.297. _______ UPDATE (June 12, 6:50 p.m.): The futures have trampolined off a 4.504 low recorded on Wednesday and appear bound for 4.883 (see inset), two ticks above the original target.The best 'easy' buying opportunity I could foresee would come on a pullback to the 4.694 midpoint pivot. _______ UPDATE (June 16, 2:03 a.m. ET): A fleeting spike Sunday evening pushed this vehicle to a peak at 4.886 -- 0.003 points from the

The futures have slightly exceeded our longstanding downside target at 3.792, but the clarity of the correction pattern (inset, and judge for yourself) leaves precious little room for more weakness over the near term. Traders looking for a low-risk entry opportunity should focus on the 5-minute chart, where a buying signal was tripped at 3.795 early Tuesday morning at around 3:10 a.m. EDT.  My guess is that there will be others if you're attentive. _______ UPDATE (June 17):  The ease with which the futures crushed a clear HP support at 3.792 (see inset, a fresh chart) implies that even lower prices are coming. The damage could be undone with an upthrust surpassing 3.868, but failing that, the futures will likely grope their way down to obvious structural support near last February's 3.382 low. _______ UPDATE (June 18): The futures turned bullishly impulsive on the intraday charts at the top of yesterday's rally, but that doesn't alter the fact that the thrust came from lows that had exceeded an important and clear downside target. This suggest that lower lows will eventually be seen. For the time being, however, this vehicle should be traded with a bullish bias.

If you've eagerly awaited a good buying opportunity in this vehicle, there are two places you could try, both of them Hidden Pivot supports that have been a month in coming.  The first lies at 3.876, and it should be bought using camouflage on a chart of 15-minute degree or less.  The second is 3.792, and because it represents the maximum extension of the pattern, it can be bought with a stop-loss as tight as you can abide.  Please let me know in the chat room if you fill so that I can establish a tracking position for your further guidance. _______ UPDATE (June 5):  Although there are lower targets outstanding, camouflage traders shouldn't pass up the easy buying opportunity that could follow a b-c pullback from in-between any of the peaks labeled in this new chart.

We looked at this vehicle during yesterday's impromptu trading session and found reasons to like the long side of the trade.  For your guidance, I've reproduced a 5-minute chart that shows exactly the kind of opportunity that camouflageurs should look for.  The tight spacing between the two labeled peaks -- one of them internal, the other external -- is ideal for the creation of the very subtle impulse legs that we prefer for purposes of initiating trades. _______ UPDATE (6:55 p.m. EDT):  There were several entry opportunities overnight similar to the one shown, and all would have worked.  Things went nut-so when the regular session opened, however, suggesting that night owls may have an easier time of it trading this vehicle.

Price action has been so frazzled lately that I zoomed out rather than in to find a chart with the information we need to make clear sense of this vehicle.  With the weekly chart as our perspective, we can see that the bullish impulsiveness of the thrust from February's lows could wax even more impressive if the rally keeps going, exceeding the 'look-to-the-left' peak at 4.345 before taking a breather. Regardless, the futures are going to be a fetching buy on any significant pullback. Camouflageurs can start looking for a way in at these levels, however, and I'd suggest using charts of 10-minute degree or less to find your spot.

Subscribers keen on harnessing this vehicle for fun and profit shouldn't be scared off just because the uptrend is so well developed. For sure, the futures are going to be quite devious at this stage of the rally. But because we have two bullish targets to leverage, it behooves us to find a way in. I've reproduced a chart that shows the kind of subtlety that can get us aboard with very little risk.  Like most attractive camouflage trades, this one began with a move to a 'D' correction target nicely visible on the five-minute chart. However, the countertrend pattern of lesser degree that followed the upturn was where we might have looked for opportunity, and in this case it was absolute, stress-free perfection.

The futures made short work of a 3.769 target and now bid fair to achieve 4.029, or 4.115 if any higher.  The new chart shows the provenance of both of these Hidden Pivots. 'Camouflage' will be difficult to come by if you're looking for a belated entry opportunity, but on the 240m chart there are still three external peaks you may be able to leverage at, respectively, 3.876 (11/27) and 3.937 (11/26) and 3.976 (11/23).

Four days of 'dueling' bulls and bears have dulled my enthusiasm at the moment, even if bulls look like they will emerge victorious. Camo traders should seeking to get long should adhere strictly to the rules, however, initiating trades only when conditions are ideal.  In the context of the chart shown, that would mean buying only after a short A-B leg gives way to a B-C from just a tick or two above the 3.527 'external' peak that I've labeled. _______ UPDATE (March 5, 1:07 a.m.):  I've refreshed the chart to show a clear rally target at 3.662 -- a logical minimum upside objective for the short-term. This is an inch from January 21's key high, and my hunch is that it won't endure. ______ UPDATE (March 11, 2:42 a.m. EST): Friday's high came within less than two cents of our target (see inset).  I see this as a potential camouflage trading opportunity, since our competition will be nervously obsessed with January's 3.670 peak. Regardless of whether the futures feint above it, you need only see the price action in ABC terms to make use  of it. _______ UPDATE (March 14, 12:40 p.m.): Having bettered a clear target, the futures are a good bet to continue to the next, at least.  It lies at 3.769 and is shown in the chart.

Oversold nearly to death as 2012's freakishly mild winter ended, Natural Gas futures are finally recovering some of their mojo with a 30% surge in the last month. Another leap is augured by the daily chart, which shows this vehicle in a consolidation with the potential to hit 4.214 when buyers get back in gear. Assuming the 'C' low at 3.609 holds, bulls would encounter key resistance at the 3.9115 p midpoint of the pattern shown. My hunch is that they'll be on their way to D (4.214) following a two-day close above the midpoint.