chartwatchers
Long

NatGas - Winter is coming

OANDA:NATGASUSD   CFDs on Natural Gas
2160 23 41
Though I don't think winter will have any effect on Natty now looks like we will have higher NatGAs prices during winter.
We have a daily swing today.
We tagged the 200 SMA and turned up from there. We had the 50% pullback of the previous ICL (FIBO 50).
RSI printed a divergence while coming out of oversold territory.
MACD crossed over.
TSI already gave in the sign - crossover - I just wanted to wait not crossing down again.
Today's volume not so high - below average - but I suggest 25% margin impact long entry.
If tomorrow we have the follow through I will add to the position up to 50% margin impact.
If we have one more leg down I will also add when RSI becomes oversold.

NEW LONG ENTRY
And today it exploded!
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Ugh... another leg down happening right now?
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Today UGAZ is not doing good .. while NATGAS is up 2% UGAZ is barely 3% instead of 6%..
hope tomorrow it will take back the delay
+1 Reply
DS77 jolu
@jolu, that's contango at work. UGAZ is a no touch this week for me as a result. Maybe pick it up next week if we can touch $20 again. Good luck.
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Thanks for sharing!
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4Hchart as well as 1H chart are not looking good.. RSI and StochRSI overbought ,any thoughts?
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jolu jolu
@jolu, it seems i was right ..
i hope it is temporary
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jolu jolu
@jolu, tomorrow we have supply data coming out .. this could take it up or on the opposite to crash again..
however i entered long on UGAZ at 24$
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@jolu, maybe with this nice weather the market is priceing it to the down side.
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@jolu, hope you didn't go all in @$24. Apri said only 25% margin impact in the event it dips
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