Natural gas has strong seasonal trend from late Feb to Late April/early May. AMEX:FCG FCG closes the period favorable 71% of the time. I'm planning on playing this with entries between 22.33-22.77 in spread across 2/20, 2/21, 2/23, 2/29 (which have the lowest probability of a positive close for the TVC:DJI ). Targeting 26.33-29.33 for profit taking, likely on...
12R and 4R trades on Natural Gas and First Trust Natural Gas. I think the 4R trade on Natural Gas is the most reasonable conservative target possible. Targeting $4-4.5 to take profits. First Trust Natural Gas is more optimistic but technically it seems like it will go there. You could do a 50:50 split between the two.
FCG looking good here with room to run in the current regression channel. Looking similar to the early June 2021 run. However some resistance exist in this price range. Indicators looking good, especially woodies CCI which is confirming the bullish trend. Further, FCG made a new high recently on the daily. Looking for a pull back for a long entry. The 2.618...
FCG: FIRST TRUST NATURAL GAS ETF The ETF is just coming out of the lows and it has formed an ascending triangle. It is testing the resistance breakout trend line again. After a successful breakout, it should retest the trend line as support and eventually reach the target price of ~$22 which is about a 25% from the breakout point. The Oscillators also look good to me.
getting close to the support area, right now doesn't look good.
Identified two possible buy points. Check for double-bottoms at the specified resistance lines.
I'm all about generating ideas off of the storm hitting the Gulf right now. With an anticipation in increasing high natural gas prices, I'm looking at this chart. A good buy for me is around 21.55 with an initial target of 23.13, where I will take 2/3 profits and move my stop up from 21.20. As a disclaimer, this post and previous and future posts are my opinions...
We can take a long at market, or wait for 26.09 to get hit to jump in this trade. Stops should be below 23.55 to be safe. Target the 38 handle give or take. It's worth considering this setup, specially if NGAS resumes the uptrend. Check out my updated track record here: pastebin.com If interested in my real time whatsapp alerts and swing trading newsletter, or...
see my chart at $4, now it is a great entry at 23 $GASL