iwosev

NG further up with a possible rotation

Long
iwosev Updated   
NYMEX:NG1!   Natural Gas Futures
NG is pushing further up. Friday a normal day with some P volume type indication due to open rejection reverse cash session.
NG is in area of single prints built in May (see link below)
We are close to a volume loaded level of 2.693 so we may see fight between sellers, who pressed below buy VPOC and buyers who would like to be back above it.
So next day or days will show if sellers are still there and if they have enough power left.
why not a scenario to open with a gap up to around 2.693 :)

https://app.screencast.com/VA0NBFyAK9q7N

NG close to 2.7 area where we may see sellers quitting positions. So 3 ideas for trade:

1. just StopLos covering and this will be with a fire above 2.7 and in case of no continuation we get sell down
2. Liquidation of stops above 2.7 in fast way or with some rotation but in that case we should keep 2.693
3. rotation in range 2.565 to 2.636
Comment:
for now bid is getting demolished, so now we are about the point we should get some support in bid, so 2.607 is a final call for longs
Comment:
for long continuation, 2.65 must be lift. if they start to offer 2.646 to 2.655 i quite long idea for now
Comment:
for now looks they may rotate. they stop to hit bid around 2.626-30 and stops to hit offer around 2.640 to 2.50.
no force to sell neither buy for now. awaiting open
Trade closed manually:
waiting for some direction. it may be just a b type day.

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