Natural Gas Shows Rejection Signs At Major Resistance Area
Alexandros Yfantis | Aug 20, 2018 05:02AM ET
Back in June when the Natural Gas price was trading around 3$ we were bearish looking for a decline towards 2.70-2.60$.
Prices eventually fell….but in mid July I closed most of my short positions and let the rest run with a trailing stop. I was expecting the end of the decline and the start of a bounce……prices bounced…..
On july 19th my entire short position was closed and warned bears that this was not the time to be short
Now back at major long-term resistance I believe this is a sell zone for Natural Gas.
I have already initiated a short position and will look to add more for a fast move towards 2.82-2.80$ once we break below 2.90$
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