NG broke out of a symmetrical triangle in textbook fashion. I'm long from the break out and targeting the resistance line in a larger channel formation, although I took some profit today.
I'm an optimist by nature, and I'm glad to be long something in my portfolio.
As you know NG made a strong move up from its support levels which should be countered by a down move pretty soon.
Historically, it may even be forming this triangle we can see on the chart, allowing it for another move down near the 2,55 zone.
That being said, I think 3,324 can be a safe zone for shorting (with reasonable exposure of course) and we...
As last week, I am taking measure of double zero 3.000 to function as a resistance.
However, Please be aware that the low price is rising and it is a price move that has not given up trying to penetrate double zero 3.000 above.
But, at the moment, I consider a short as judging that double zero 3.000 has functioned as a resistance.
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1) It was judged...
Natural Gas - Short term levels of supply and Demand to watch next week.
Supply and Demand:
2.923 is a level to watch closely on Monday. Last week we broke through a daily trendline at that level and price ran over 71 points in less than a minute.
Just below that level there is Thursday point of control at 2.912, this is where the most volume came in before the...