Looks like we are possibly making a double bottom on the hourly. I'd short if it breaks below $1.8
I'm playing UGAZ and this is what my position looks like. My average entry is @ $15.09 My is at S/L @ $14.5 Long until minimum $18.. will reassess as we move forward. We may sit in a channel before a pop or another drop. We will see.
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Tested support trend line in AH, testing it again now, may break, and push lower today.
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Pushing up to resistance now, buy above 16
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Consolidating
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Getting momentum
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Looking for higher highs and lower lows on the 5 minute
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I'd like to see some more consolidation and another move up toward the top of the channel
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Things aren't looking so good, raise SL to 15.7
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Big jump on some volume right there, was not stopped out lowered stop to 15.09
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Sitting on resistance, if it breaks out of the descending triangle first PT is $2.1
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I'd say it's likely to consolidate at 16.80
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Poked 16.8 on that dip, don't want to see it much below 16.8
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UGAZ was up at $18.5 PM, sitting at 16.8 now, will sell IF it starts breaking down at open I'm going to lock in profits and see what it does, will look for another entry if it shows bullish signs again.
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will it break out of the descending triangle again?
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Sold.. protect your capital.
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Looking for possible re-entry on a break of 1.8 on natty gas