NATURAL GAS
Another Bounce Before Spring?During the mid of November, we experienced a terrible bull attack. I shorted Natural Gas at 4 and got a huge loss.
Thanks to the setting of stop loss, i survived from that bounce. I also heard many traders lost their position when they waked up in the morning.
Hedge Fund "OptionSellers" managed by the legendary trader James Cordier, broke in one night, because they didn't hedge anything for their short position on Natrual Gas.
I really respect the bulls for that attack. They taught me an important lesson in my life.
OK, back to the Topic. Natural Gas slipped deeply after it failed to chase new high. And it has touched its strong support. I think it may bounce back in the next few week.
If the Natural Gas break the support, we will see what will happen on the uptrend line.
2018.12.27 Short-term Natural GasLong-range weather model showing signs of colder weather approaching end of January. Bias is now bullish short/mid-term. Lets see if this bad boy can get back above 4 in the next week or two. Technically trend is still bearish as 20MA has yet to crossover 50MA, but will be looking for this cross to happen soon. For now, should tag 50MA on this next move up if weather still supports bullish price action. GL to everyone!
NATGAS: Plan for 2018 into 2019Appears to be forming a flag and respecting the channel trend lines. Looking for a bounce next week (and 2 weeks) into fib/resistance ranges. The lesser probability is for the channel to break down into area of previous breakout. Currently neutral and looking for a bounce into resistance for next short position.