Gas Fib Retracement - Long Order
Entry: $2.407
TP & RR: $2.549 (3.38)
Stop Loss: $2.365
REASONS FOR THE TRADE
So far Gas has respected the Fibonacci levels twice, leading me to believe that we may see a bounce from the 0.236 level and a potential reversal. We also have a descending trendline, which I am not sure how well will be respected, but it's worth...
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...
In my own opinion, since Natural Gas first landed on the market in 2004, it has 1 all time low at 1.574, which is lower than 2004 and since then we have never tested this bottom again. I think with news of coronavirus, it is the perfect opportunity for this level to be tested and i think it will go much further down creating a new low for natural...
