We managed to see a good run on our previous Natural Gas trade idea. From $2.12, the price exceeded our expectations, going on to test $2.70 in about six weeks. Now, we see the price retreating to test the 50-day moving average which is also just above the 61.8% Fibonacci Retracement Level. If you've missed the previous trade, the current level provides an opportunity to take a buy long position in anticipation of a rebound.
Trading Plan:
Buy NatGas at current levels ($2.33) or better
Use a stop-loss of $2.26 to protect capital
Take profit at or near $2.48
Trading Plan:
Buy NatGas at current levels ($2.33) or better
Use a stop-loss of $2.26 to protect capital
Take profit at or near $2.48
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.
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.