Safe Trades;
SO we did fill the gap. I am thinking that we will touch that red line which corresponds to a couple bottoms last year. The question is whether or not we finally start the winter rally or simply set up to fill that last gap. Today a subscription that I get, had an update for XLR (the general energy ETF). Their chart showed the general energy fund dropping...
Yep. The title says it all. I have found evidence to support what I believe is future upward price movement over the next 2 months. After many many hours of exhaustive research, I can say with 100% certainty, backed up by years and years of historical data that......IT GETS COLD IN THE WINTER! Just some light humor. So I have two price targets for this...
I am not sure if we can fill both gaps on Ugaz but it is possible. I am pretty sure that we will fill the first one. Once we get to the bottom of that first gap, I am planning on looking at NG futures to see if it also filled its gap. If not then I might wait until the bottom gap is filled. After that UGAZ would be a huge buy from my wintery perspective.
Copper has a great week with great bull power I think we will continue to see this .... Look out for the black trend line and i think we will follow the pattern in the chart Best of luck :)
The sideways action of Natural gas looks like a developing triangle similar to my view of US Oil. (see link below. Here are 2 possibilities IF I am correct. Process your way. Feedback appreciated.
Long b/c of seasonality as well as technicals are starting to look good. Slow Stochastic just broke above 20 and MACD is about to cross. Full disclosure, had a horrible entry and got smacked. Looking to get my cash back. T1- first target T2 -2nd target *not advice & not a pro trader
Failed breakout probably nesting longs between 2.70-2.5 $UNG
FX:NGAS Safe Trades;
Popped just above channel but back in today. My stop is 3.13. Take care.
NG feels oddly strong today. Support has been found in the middle of the adjusted keltner bands as well as the lower part of the Cloud (not not visible here). No major signal by them selves, but the strong support on the weekly chart in combination with the current rally does suggest that at least a new push higher will be attempted. Worth a gamble? We think so,...
Here is how I currently see it.
Blue line = weekly levels (4h trading) Red line = monthly levels (daily trading) Dotted lines = active levels
Volume profile fits this scenario $NGAS
Large volume and a wick after an extended down move in Natgas. Also forward curve is bullish relative to spot price. Don't buy UNG because of the roll decay, buy the spread NGH2018-NGJ2018.
50SMA crossed 200SMA early July. Will it stay below? SRSI trending up, we could see a re-test of 3.11, breaking above signals reversal to the longside, rejection below confirms the established downtrend.