Natural Gas Long Opportunity
Updated
Bull flag forming on NG1! daily chart.
Price consolidated in that pattern between 2 weekly zones and when it finally broke, bull momentum slowed and profit taking occurred.
I expect a retest on the upper channel before a charge to the 3.0 level.
This is one of those text book flag-retest setup
Opportunities to swing trade this commodity have been far and apart but a bull move seems to be what the market is signalling.
How I shall trade this:
1. I will be placing a buy Limit at the 2.75 area with an initial target at 2.90
2. A slightly smaller aggressive entry above the high of the Monday close with at target at 3.00
Happy Trading!
Price consolidated in that pattern between 2 weekly zones and when it finally broke, bull momentum slowed and profit taking occurred.
I expect a retest on the upper channel before a charge to the 3.0 level.
This is one of those text book flag-retest setup
Opportunities to swing trade this commodity have been far and apart but a bull move seems to be what the market is signalling.
How I shall trade this:
1. I will be placing a buy Limit at the 2.75 area with an initial target at 2.90
2. A slightly smaller aggressive entry above the high of the Monday close with at target at 3.00
Happy Trading!
Trade active
Major Profit Alert!Note
First Target (2.90) Reached, aggressive entry is now climbing to look for 3.00
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