Hot weather will likely boost Natural Gas prices in the near term so I opened a long position after price broke above $1.80 again.
$QG - E-mini Natural Gas Futures
+1 @ $1.815
Sell Limit -1 @ $1.94
Additionally, the MACD is showing bullish momentum on the 4hr chart and prices are being supported by the 50 and 200 EMA. If price clears $1.83 I see the momentum taking it up to $1.94 at the very least and $2.04 at the most. Should prices fall I might buy more and average down my cost basis since I don't think prices will stay down for very long under these conditions.
weather.com/forecast...thern-plains-expands
$QG - E-mini Natural Gas Futures
+1 @ $1.815
Sell Limit -1 @ $1.94
Additionally, the MACD is showing bullish momentum on the 4hr chart and prices are being supported by the 50 and 200 EMA. If price clears $1.83 I see the momentum taking it up to $1.94 at the very least and $2.04 at the most. Should prices fall I might buy more and average down my cost basis since I don't think prices will stay down for very long under these conditions.
weather.com/forecast...thern-plains-expands
Trade closed manually:
-1 @ $1.725
Closed for a $200 loss
Was not expecting CA to shut down again today due to CV19.
Closed for a $200 loss
Was not expecting CA to shut down again today due to CV19.