Natural Gas Goes Kaboom!
Profits have been secured I the Natural gas trade. That being said I still think Nat gas equities can push higher.
On the UNG chart we just saw the 20 day MA & 50 Day MA bullishly crossover each other.
Last time this happened Nat gas had a 4-5 day parabolic move.
The bulls must be careful to not push this commodity up too quickly because it makes the pattern less likely to have a continued breakout.
We are still putting in Lower weekly highs, so the next test of the most recent pivot high is going to be crucial.
If the bulls can trigger the weekly inverse head and shoulder pattern there's going to be a great long continuation opportunity. Until we break the pivot high & create a higher high traders must use caution now that we've had a large move occur.
AR, EQT, CPK, LNG are all set to push higher if Nat gas holds these gains.
On the UNG chart we just saw the 20 day MA & 50 Day MA bullishly crossover each other.
Last time this happened Nat gas had a 4-5 day parabolic move.
The bulls must be careful to not push this commodity up too quickly because it makes the pattern less likely to have a continued breakout.
We are still putting in Lower weekly highs, so the next test of the most recent pivot high is going to be crucial.
If the bulls can trigger the weekly inverse head and shoulder pattern there's going to be a great long continuation opportunity. Until we break the pivot high & create a higher high traders must use caution now that we've had a large move occur.
AR, EQT, CPK, LNG are all set to push higher if Nat gas holds these gains.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.