liviu28

NG - good market for intraday traders

NYMEX:NG1!   Natural Gas Futures
5
NG is trading close to the trend support line and probably we will see more selling pressure trying to see some stop loss triggered under 3$, even if in this moment seller are in control, probably a brake below 3$ will be quickly covered. I expect buyers to be more active in the market close to 2.9000 level. I think NG can be in the fallowing days very good market for intraday traders, i advice going short under 3$ with an 50 ticks profit target and start building longs after first sign of exhaustion, also be careful that any up movement can be rejected from the 100 MA which holds quite nice in last couple of mouth.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.