As many I’m sure are aware, Natural Gas has been slaughtered. Chess pointed out there may have been capitulation selling recently. Regardless, the past two trading days have seen a sharp reversal for natural gas. As markets continue to rally and natural gas goes untouched, maybe it will get its turn shortly to squeeze higher. A good way to try to take advantage of this move is to go long GMXR, which has held up over $1.15, what seems to be its last line of support. Stochastics show oversold, and on the daily and some intraday time frames, there have been positive MACD crosses recently. If GMXR closes below $1.15, cut the loss.
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