Gas Long Setup
🔵 Entry: $2.81
🟢 TP & RR: $3.04 (1.71)
⛔ Stop Loss: $2.67
Trade Reasons:
✔️ Reaching lower trend line
✔️ Reaching support level
✔️ Market Flow indicator printing small divergences in the oversold area
📝 Not a great RRR, but the SL is positioned at a very safe level below the diagonal trendline and the recent lowest low. If price bounces off that...
Gas Upper Trendline - Short Trade
Entry: $2.845
TP & RR: $2.693 (2.08)
Stop Loss: $2.918
REASONS FOR THE TRADE
After the breakout from the descending channel, we see the price sliding up an inclined trend line. However, the price is now reaching major resistance and I believe there will be a small pullback before potential continuation to the 1.618 Fib...
Collapsing oil prices due to travel bans fueled by the coronavirus slashed the global outlook for energy demand.
Natural gas futures plunged 7% to their lowest since 1995.
PIVOT INDICATOR HOLDING THE TREND SHORT
Natural gas prices slumping nearly 40% over the past year and is showing a retracement in the Asia session.
Saudi Aramco has announced that it will be pumping $110 billion over the next couple of years to develop the Jafurah gas field, which is estimated to hold 200 trillion cubic feet of gas.
The state-owned company hopes to start natural gas production from...
