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
