liviu28

NG - Cover Longs and start digging for Shorts

Short
NYMEX:NG1!   Natural Gas Futures
5
NG market moved up this week after a 7 days sell off which pushed the market to the 50% FIB LVL from the all up movement started in mid November and to the 100 days MA. The upward movement starts to loss momentum close to the 50% small FIB LVL on the down movement. Still we don't have any confirmation for a potential short, and i expect the market to test the 3.5000 level which, from my point of view will act as a pivot point in the next weeks and i think there are pretty nice chances that the NG will consolidate around this level and retest the 3.3000 area.
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.