Natural Gas sell can go away soon, good time to buy
Hello Traders, today's daily candle is showing us that there is a good price drop in natural gas , but the volume isn't the favoring the price action anyway which maybe an indication that this could be one of the last sells left in the current trend, yes there can be more sells we must remain open to that but currently the move isn't supported by the volume and the price is also coming to our last target of the short which we opened few days ago.
So, we will consider long for now, there are few possible scenarios i believe:
1. The price can bounce from the current blue channel in which it is, but it is very less likely less than 3-4% IMO
2. The price will come in the green box which will be our ideal buy zone for the long run, also please don't be too aggressive look for price action in that area to be specific i will look for buy around 2.18 or 2.16$ range area, but anything below 2.2 is good its a good even number for the market.
3. If it reach that red zone area it will be a surprise for me personally, ideally if i see good price action to the upside in the green area i will use this red zone as stop but if that isn't the case i.e if we don't get good buy action in the green zone i will look for buy here in the red zone, but i think this scenario will also be less likely IMO less than 10%.
So personally i am with scenario 2 and maximum chances are there for us.
Happy Thanks Giving!
May the markets be with you.
So, we will consider long for now, there are few possible scenarios i believe:
1. The price can bounce from the current blue channel in which it is, but it is very less likely less than 3-4% IMO
2. The price will come in the green box which will be our ideal buy zone for the long run, also please don't be too aggressive look for price action in that area to be specific i will look for buy around 2.18 or 2.16$ range area, but anything below 2.2 is good its a good even number for the market.
3. If it reach that red zone area it will be a surprise for me personally, ideally if i see good price action to the upside in the green area i will use this red zone as stop but if that isn't the case i.e if we don't get good buy action in the green zone i will look for buy here in the red zone, but i think this scenario will also be less likely IMO less than 10%.
So personally i am with scenario 2 and maximum chances are there for us.
Happy Thanks Giving!
May the markets be with you.