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Natural Gas Long Opportunity

Natural Gas Long Opportunity

NATURAL GAS FUTURES NYMEX:NG1!

Bull flag forming on NG1!0.00%% daily chart .

Price consolidated in that pattern between 2 weekly zones and when it finally broke, bull momentum slowed and profit taking occurred.

I expect a retest on the upper channel before a charge to the 3.0 level.

This is one of those text book flag-retest setup

Opportunities to swing trade this commodity have been far and apart but a bull move seems to be what the market is signalling.

How I shall trade this:

1. I will be placing a buy Limit at the 2.75 area with an initial target at 2.90
2. A slightly smaller aggressive entry above the high of the Monday close with at target at 3.00

Happy Trading!