NGAS: Weekly uptrend active

FX:NGAS   Natural Gas (Henry Hub)
282 2 12
NGAS has pending upside yet to be tapped. Last week's advance gives us reason to buy dips against the 3.049 level, with stops at 2.898, or, we can use the daily chart to spot the turning point and buy dips (like I've been doing consistently for some time now). We can also buy a new high in the daily, risking simply a new daily low.

The dashed line above marks the main resistance zone from the long term decline that started on 2014. If NGAS breaks the resistance, it could rally towards $3.81, and possibly even higher, reaching the $4-5 handle.
Risk is very small on the long side right now, so don't miss out on the buy this week.

Good luck,

Ivan Labrie.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803). KHL telegram group: https://t.me/joinchat/AAAAAAqHRWYvrLlfpF0StA
Cretinon PRO
4 months ago
thanks for sharing :)

is there any risk to be short in few days because "irak may increase output in 2017" (see http://www.reuters.com/article/us-iraq-energy-oil-gas-idUSKCN129061) ? and having new correction next week ?

have safe trade :)
IvanLabrie PRO Cretinon
4 months ago
Hi, thanks. The main trend is up, so while lower timeframes might go into a short term downtrend, this is a buying opportunity if you want to join the bigger picture trend.
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