Ultra Short Term and Mid Term view of NATURAL GAS NG UNG
Updated
Tickers: NG1!, UNG
Short term view: We are finding weak support at $4.90 level on NG, or $17.50 on UNG.
We are in overall BEAR BIAS MARKET (even with the short term uptrend in the larger equities and bond market) so we will retain the retracement from the SELLERS perspective.
We find a strong case to take profit at $5.20 (NG1!) or $18.15 (UNG)
There is a possibility if the market exuberance continues, we can consider a mid-term view of NG
MIDTERM VIEW:
SHORT TERM VIEW:
Short term view: We are finding weak support at $4.90 level on NG, or $17.50 on UNG.
We are in overall BEAR BIAS MARKET (even with the short term uptrend in the larger equities and bond market) so we will retain the retracement from the SELLERS perspective.
We find a strong case to take profit at $5.20 (NG1!) or $18.15 (UNG)
- TP1: $5.20 (NG1!) / $18.15 (UNG)
- TP2: $5.35 (NG1!) / $18.80 (UNG)
There is a possibility if the market exuberance continues, we can consider a mid-term view of NG
MIDTERM VIEW:
SHORT TERM VIEW:
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