Natural Gas. Nearing Buy/Long Re-Entry
An extract from this morning's research.
TRADING QUICKTAKE: NG was one of our strongest performers, having been recommended at $2.66 in April, with a high of $6.46 printed by October. The commodity has retraced to $3.74 which is near the prior resistance and which could become ‘new support’. Also noted is the large falling wedge structure where a break of the trend line resistance triggers a long. Keep this on your watchlist. I am. Daily Chart. Medium Term Swing View.
Current level: $3.72
TRADING QUICKTAKE: NG was one of our strongest performers, having been recommended at $2.66 in April, with a high of $6.46 printed by October. The commodity has retraced to $3.74 which is near the prior resistance and which could become ‘new support’. Also noted is the large falling wedge structure where a break of the trend line resistance triggers a long. Keep this on your watchlist. I am. Daily Chart. Medium Term Swing View.
Current level: $3.72
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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.