Natural Gas , is there still potential that can be acquired or?
Hi guys, let's take a look into natural gas which has been quite underwhelming for the past probably 6-12 months without any significant movement. The only recent interest shift in the price is the previous resistance line becoming a Resistance Line siting at the level of 3.20 and the formation of a new stable Support Line at the level of 2.60-2.70 level. The main drive into the prices of Natural Gas has been the Hurricane Helene disrupting the overall supply chain in the U.S. and the recent news coming from Russia and it's change to the Nuclear Weapon legislation , after Ukraine received the green light from the U.S. and the U.K. to use their current provided arsenal of weapons. As of now the main moving power of Natural Gas is Europe and its supply of NG. It has been confirmed that Europe has enough storage of Natural Gas to take care of the winter, but as we are seeing November is starting to become colder and December&January is expected to be significantly colder so there would definitely be higher demand than usual. My personal input on this opportunity is in two options.
Option 1 strong entry , from the current level of 3.50 with a target of
Target 1 : 4.00
Target 2 : 4.25
Option 2 calculated entry , wait for the price to drop down and retest the resistance line of 3.20 and then follow up with the same targets.
Target 1 : 4.00
Target 2 : 4.25
Option 1 strong entry , from the current level of 3.50 with a target of
Target 1 : 4.00
Target 2 : 4.25
Option 2 calculated entry , wait for the price to drop down and retest the resistance line of 3.20 and then follow up with the same targets.
Target 1 : 4.00
Target 2 : 4.25
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