Natural gas has recently fallen down to a confluence area of support. This support area consists of a long term trendline originating from the low in March 2016, a short term trendline, the 61.8 fib retracement of the March 2016 low to November 2018 high and the 3.00 whole number level. Price has been ranging around this area of confluence for several days now, even briefly managing to close above 3.00 before retreating back below it. If price can close above 3.00 again on a daily basis a long position will be entered. Stop will be on a close below 2.80 and take profit at 3.80. Be cautious because the 200 daily moving average sits above price at 3.12 currently, any sign of price reversing at this level and the trade should be exited. A conservative trader may wait until price has closed above the 200 DMA before entering the trade however risk reward starts to become less favourable.
NOTE: This is not recommendation to buy or sell, it is simply for educational purposes.