Natural Gas: Too Late To Get In?

The short answer is probably no. 

The long answer (not a recommendation, not advice) is nat-gas can be extremely frustrating to trade.

The gap-up open today, dissipated and closed lower.  Currently, in the overnight session nat-gas is lower still, by -2.05%. to -2.15%

Based on that data, the daily chart of UNG has been updated to show where trading action is taking place overnight.

Note the trend-line:

If price action contacts this line again and bounces off to the upside, it’s an excellent confirmation … possibly leading all the way to the December – January (planned exit) time frame

Coming up in a few days is the EIA Natural Gas report; due out on Thursday at 10:30 a.m.

Price action as a result of the report (just after release) may give an opportunity for an entry provided the overall trend remains to the up-side.

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.
<span>%d</span> bloggers like this: