Description
⋅ It is not the best time, seasonnaly speaking, but NG always choose his own way to swing....
At 3 years low, with the RSI flirting with 30, long term sensitive point for this one on the daily chart, a decent bounce is predictable...
There is many ways to trade it, have some fun!!
Trade closed: target reached
⋅ ....timing was good with this post, jump from 2.50's to 90's, translating a decent profit of 25%+ gain on UGAZ... refer to previous post
now back to square one in the 2.50's and RSI back in the low 30's on the daily...
...seasonaly, no rush to jump in, but keep an eye for opportunity from now to july, for the beginning of the winter inventory buildup...
most likely, the 2.50 support should be kept... if you see a divergence forming til then, this should be a great opportunity!