As of now, expecting lots of chop within a range between $1.50 and $1.83 all Summer.
Supply is abundant and demand is slow however, bankruptcies from 25-year low prices will soon take chunks out of production and demand may have bottomed already. Hot weather forecasts in high demand states (the South and Northeast) should also pop prices. Risk to the downside is if New York starts locking down again, signalling more demand loss on the way.
Trade strategy:
Buy near the bottom of the range and sell near the top and/or on bounces from the 200 (4hr) EMA
If there is a daily close below $1.50 or some kind of big push below that level I'll close all positions.
Active trades ($QG Natural Gas E-Micro Futures):
+1 @ $1.53
Supply is abundant and demand is slow however, bankruptcies from 25-year low prices will soon take chunks out of production and demand may have bottomed already. Hot weather forecasts in high demand states (the South and Northeast) should also pop prices. Risk to the downside is if New York starts locking down again, signalling more demand loss on the way.
Trade strategy:
Buy near the bottom of the range and sell near the top and/or on bounces from the 200 (4hr) EMA
If there is a daily close below $1.50 or some kind of big push below that level I'll close all positions.
Active trades ($QG Natural Gas E-Micro Futures):
+1 @ $1.53
Trade closed: target reached:
-1 @ $1.645
Had a quick run up today so closing this trade for now for a $240 profit.
Looking to buy again on a dip or I might buy back in if tomorrow's daily candle breaks above today's close.
Had a quick run up today so closing this trade for now for a $240 profit.
Looking to buy again on a dip or I might buy back in if tomorrow's daily candle breaks above today's close.
Trade active:
-1 @ $1.825
Opened a short position.
Opened a short position.
Trade closed manually:
+1 @ $1.835
Closed short position for a $12.50 loss.
Yesterday the price initially topped out exactly where I had anticipated at $1.86 however, later in the day it pushed well above this key level. Today prices corrected back down to $1.83 and looks like it could find support here so I'm looking for a better trade setup.
Closed short position for a $12.50 loss.
Yesterday the price initially topped out exactly where I had anticipated at $1.86 however, later in the day it pushed well above this key level. Today prices corrected back down to $1.83 and looks like it could find support here so I'm looking for a better trade setup.
If there is a pop to $1.83 - $1.86, possible short to $1.65
Alternatively, buying dips to $1.50 - $1.65