NG Trading Channel
As of late August, NG has been in a bullish trading channel. NG is the most volatile of all commodities and there are quality daily trade opportunities both short and long over the short term. Longer term, the current cycle has a bullish slant.
Fundamentally we are moving closer to the winter season that is switches storing gas to removing gas from storage. In anticipation of this we should see a bullish slant toward headed into winter.
Technically speaking, gas is trading in a nice channel that will help you anticipate buying and selling opportunities. Any drop below 2.20 is a buying opportunity. I'm anticipating a short term pullback as NG continues to climb toward the 2.40 level.
https://www.tradingview.com/chart/rmewA7bD/?symbol=NYMEX%3ANGV2024
Fundamentally we are moving closer to the winter season that is switches storing gas to removing gas from storage. In anticipation of this we should see a bullish slant toward headed into winter.
Technically speaking, gas is trading in a nice channel that will help you anticipate buying and selling opportunities. Any drop below 2.20 is a buying opportunity. I'm anticipating a short term pullback as NG continues to climb toward the 2.40 level.
https://www.tradingview.com/chart/rmewA7bD/?symbol=NYMEX%3ANGV2024
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