Long considered the ugly end of the energy business, the Natural Gas business is slowly starting to return. For those following the Commodities Countdown and Canadian Technician webinars, this will not be new. Three charts this week have really started to break away and look like a solid area for the 4th quarter.
Encana (ECA) has really been moving and looks set to continue. This is as nice as it gets technically.
Here is Devon Energy (DVN). This is a beautiful move so far. The SCTR continues to be a good clue.
Lastly, here is Cheniere Energy (LNG). This is just starting to break out.
There are a number of Oil and Gas stocks that are setting up technically for a great end of the year run. Perhaps you can join me on Commodities Countdown webinars Thursday at 5 PM EDT. Click here to register for next week.
But wait, there's more! Martin Pring and I will record a live webinar from Martin's office at Pring Studios on Tuesday, August 23rd @ 5 EDT ! Martin Pring and Greg Schnell 2016-08-23 Back From The Precipice Webinar! Every now and then, the charts line up for a major decision. Currently, we have one of those moments in history. From Commodities, Equities, Bonds, and Currencies, there appears to be a global theme setting up. You need to click on the link to register! Yes, don't forget to click! Martin Pring and Greg Schnell 2016-08-23 Back From The Precipice Webinar!
But wait, there's even more! We have a new link to some of my favorite charts. It is a location you can bookmark to just browse the charts I think are currently important. You may disagree, but that's ok! Commodities Countdown Chartlist. Currently, I have some Bullish Percent Index (BPI) Charts posted with other commodity charts. Someone commented it was nice to see me back away from the edge after I was so bearish last summer when they were plummeting! The bottom line is they are still extremely strong and bear markets don't usually start with big, high, broad Bullish Percent Index readings.
I hope you agree that watching my webinars live is always so much fun. Yeah, whatever! Sometimes your calendar does not fit with mine. When it doesn't fit, you can check the webinar archives found here to see if you missed any. StockCharts Webinar archives. You can also follow me on twitter @Schnellinvestor and LinkedIn.
Good trading,
Greg Schnell, CMT, MFTA.
