GOOD EVENING There is no doubt with the war between Russia and Ukraine, the price of fuel and gas will rise to a level we have never seen before, in addition to all candles and the resistance line that I drew before has been broken. so it's a good time to buy now especially since there is no indication that this crisis will end soon business is a business that. so...
✅GAS is trading along the rising support And as the pair is retesting it I am expecting the price to go up To retest the supply levels above LONG🚀 ✅Like and subscribe to never miss a new idea!✅
☑️NATGAS is trading in an uptrend Along the long term trendline support And now it it retesting this support Therefore, I am expecting it to rise To retest higher levels LONG↗️ ✅Like and subscribe to never miss a new idea!✅
NATGAS is trading in a rising opening wedge And is almost at the support line of the wedge Therefore, coupling fundamental and technical analysis I think that NG1! will go Up from here To retest the recent high Like and subscribe to never miss a new idea!
Thursday EIA inventory report showed that inventories rose by 102 bcf. That is eleventh consecutive week that inventories are above their 5 year average. That pushed prices down to test previous support and making double bottom structure. Chart structure is good for bounce and signalling some gains for long positions.
Please see annotated chart for details.
I am bear short term, bull long term... I opened shorts too early, it looks like it may hit 3.00+ before another correction. I was hoping to be able to open a long term Long at, or below 2.50 but based on my chart.. the current bull isn't done yet.
As I described my thoughts on the chart.
Traders, UPDATE: We've had a great downside move since I posted recently. Had a very nice bearish move, and still holding confidently. An update on my previous NGAS idea. Well to anyone in my signals group who caught this one, we made some great money, hit our target and did great. Was a fantastic trade. -----Interested in joining my professional signals...
Looking to go short on NGAS which is still in a downtrend. Good Luck :)
In Chronological Entry order Red Gartley: Entry at 3.057 Stops at 3.181, above X Target at 2.879, 38.2 of AD Orange Gartley: Entry at 3.266 Stops at 3.486, above X Target at 2.985, 38.2 of AD Blue Cypher: Entry at 3.602 Stops at 4.006, above X Target at 3.168, 38.2 of CD