Natural gas has been a huge disappointment this summer. However, it is notably outperforming crude oil this week and attempting to carve out something akin to a base bottom.
On the 30-minute chart for the ETF, below, a move over $21.50 can be considered an actionable long trigger to play for further upside.
Overall, natty has a ton of work to do to reverse the damage sustained in recent months. So keep trades small and stops tight until then.
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What do you think CLNE here ?
Needs hold 100-day m.a. here or looking for wipeout lower.
Felix UNGer
I missed the last bit of the drop below $22 (my July UNG puts ran out of clock), but I switched over for a quick UNG ‘rental’ (Aug 8 calls), so let’s hope we can sustain this mini-trip higher .
We see natural gas possibly doubling in price from here
natural gas can go 17,