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NATGAS has has both a strong local and general double bottom and is looking to retest 3.0-3.1 and higher before it sees 2.5 again. Strong gap up over weekend was very predictable as is evidenced from my idea last week.
With both strong fundamentals ( bullish report) and strong technicals (respected double bottoms) shorts would be wise to wait and watch for a while.
For those who are getting in late, UGAZ should still be a good buy come market open on Tuesday with a safe selling target of 3.05 (in the NATGAS index) or possibly even higher should we break into the fib channel at 3.1 or so.
Stay safe and good luck!
EDIT:
Attached is an image of the local double bottom in case you can't see it because of my text bubble.
With both strong fundamentals ( bullish report) and strong technicals (respected double bottoms) shorts would be wise to wait and watch for a while.
For those who are getting in late, UGAZ should still be a good buy come market open on Tuesday with a safe selling target of 3.05 (in the NATGAS index) or possibly even higher should we break into the fib channel at 3.1 or so.
Stay safe and good luck!
EDIT:
Attached is an image of the local double bottom in case you can't see it because of my text bubble.
交易結束：達到停損點:
Taking my 3% profit and walking away for now. Extremely bearish pressure before market open is way to spooky for me to hold a long right now. Not sure where NATGAS is going right now but we will see soon I suppose.