After the successful retest, no harm in getting bullish Natural Gas.
Seasonal tendencies are Favourable during this time.
BUT one thing that is concerning me is Commercials getting Bearish.
But that can happen and its OK.
Still my advice is to keep a strict stop loss and TRAIL it.
In Continuation with my Last weeks commentary,
I am patiently waiting the test of the Breakout AREA.
However keep in mind, The intensity and structure of the test will be very crucial before taking a decision to go Long.
But Seasonal s and Technical s Favour LONGS.
Happy Trading NG!!!
Great Opportunity.
NG Reaching Critical Resistance with HUGE GAP staring Below.
But Use Tight Stops, as Seasonal Upward Move Tendencies are approaching!!!
My View
Natural Gas Weakly Chart
2 Gap Show Weakly Chart
And Show Head And Shoulder Pattern
Close Above Neckline Fill The Gap
And Touch 4.30 0.....
My View Only Close Above Neckline...
and Any Change Update....Also Time 2 Time
Remember In Prayer
And
Help 4 Every 1.....
And also check my last update on NG. After Channel breakout now trading above 161.8%. So will undergo correction till 3.15, so I am adding my long position now and if correct near to 3.15 will add more for the target of 4.5 in short term.
Keep the stop loss near 3.
On monthly chart, the price action indicates a change in trend.
Why is it a Change in Trend:
1. Price action making lower Highs (LH) and Lower Lows (LH) on monthly chart created a downward trend channel.
2. Now the price action made a Higher Low (HL) as indicated in above chart that indicates rejection of lower prices and buyers entering market to control...
