NYMEX:NG1! Natural Gas Futures
Resistance at 3.10 with potential to head back to low levels see back in the early 90's.
Trade active: Short at 2.78, SL 3.12
Comment: Added at 2.80
Comment: Good start
Comment: Added at 3.08
Comment: Heading in the right direction
Comment: Added at 3.05
Comment: ...Move above 310 and I throw in the towel
Comment: Tapped out and flipped to long at 311
Genghis, thank you so much for your setup. NG is the most unpredictable tool, so any professional vision and forecast high valuable. Great profits to you. What do you think about Oil in this case - is it going to 10-20 level too or do you think that a huge grow till 70 area is also possible. My forecast is 70 level till the NY. What do you think about it?
Still big oversupply in oil and the OPEC chatter is all smoke and mirrors. Yes they may cut... but only once they have ramped up production to higher levels that current. Saudi needs to hold or increase to keep their head above water. Economically they are really struggling it seems and them cutting not going to necessarily help them. My 5 cents