Nat Gas (UNG, NG) Retracement Long
Considering a trend continuation long in NG here. Per the attached charts (also using futures for zoning), we've had a decent pullback and are nearing intermediate-term (daily) demand. Using the futures chart, there are multiple 15-minute demand zones stacked 3.058-3.006. So, if we penetrate that zone (flirting with it now), look for micro timeframe reversal cues. Looking for a solid swing from this one, so we'll see what happens! Quick take, but want to get this posted as the trade is setting up as I type.
Godspeed!
Jon @ LionHart Trading
Godspeed!
Jon @ LionHart Trading
Note
Level has been frontrun on account of the November ng contract barely penetrating a small timeframe demand/buy zone @ 3.058. We'll have to see if NG rallies from here or if this bounce is a fakeout reaction awaiting a flush down, deeper into demand.
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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.