Natural Gas - Winter Contracts
Winter contracts for Natural Gas are already trading near the pivotal $3.00 level.
If Winter this year turns out to be average prices will likely sell off towards $2.50 (the 200 Day EMA).
However, if production continues to fall and Winter is cold enough, prices can break above $3.00 and complete the parabolic move that is forming.
If the latter happens, I see prices for December(Z) contracts topping out around $3.10 - $3.30
February(F) I see topping out around $3.40 - $3.60
I'm looking for a buying opportunity on the December contract and praying for a cold November to sell it in.
If Winter this year turns out to be average prices will likely sell off towards $2.50 (the 200 Day EMA).
However, if production continues to fall and Winter is cold enough, prices can break above $3.00 and complete the parabolic move that is forming.
If the latter happens, I see prices for December(Z) contracts topping out around $3.10 - $3.30
February(F) I see topping out around $3.40 - $3.60
I'm looking for a buying opportunity on the December contract and praying for a cold November to sell it in.
Note
Typo: The blue overlay is the January(F) contract, not February(G)Trade active
Starting to build long position on December(Z)+1 @ $2.82
Trade closed manually
Today I took profits on this position as prices shot up to $3.00 sooner than I expected.-1 @ $2.99
Profit: $425
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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.
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.