NatGas ready to heat up in 2020!
Updated
A corrective WXY seems near completion in /NG. A break above 2.28 area could see us up up to 2.70 at the least and potentially higher if WXY corrective is finished. If it is not finished and we have further downside left, a move to 1.98-1.82 to the .88 Fibonacci retrace level would not surprise me.
Summary of trade 1: Long Nat Gas on break of 2.28 with a stop slightly below that level. Look to take some off at 2.60-65 area and raise stop to entry on rest.
Summary of trade 2: Go long on a PTP BUY signal ff Nat Gas gets into the 1.98-1.82 area and put your stop at the low of bar 2 bars from entry.
Summary of trade 1: Long Nat Gas on break of 2.28 with a stop slightly below that level. Look to take some off at 2.60-65 area and raise stop to entry on rest.
Summary of trade 2: Go long on a PTP BUY signal ff Nat Gas gets into the 1.98-1.82 area and put your stop at the low of bar 2 bars from entry.
Note
For those of you who trade the ETFs. UNG and BOIL are two that you use to take advantage of price moves in Natural gas. Keep an eye on these ETFs with PTP Trend Trader enabled and wait for a buy signal. A break above 8.63 for BOIL or a break above 17.02 for UNG bodes well for a nice upside in these instruments. All the best.
PTP
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.