Trade NG With Bullish Formation
Satendra Singh | Jan 22, 2019 12:55PM ET
I’ve found an important formation in natural gas (NYSE:UGAZ), which is about to complete in the daily chart of natural gas. I would call it Cup with Handle. Secondly, a sudden spurt in trading volumes with formation of green candle in a daily chart is evident enough for completion of this bullish formation till January 28th, 2019. I find any dip below the current levels will provide good chance from the level of $37 to go long with immediate target of $105 till mid-February 2019. I find that growing volatility in Natural Gas futures price during this period may provide a good opportunity to bargain hunters for going long in Natural Gas ETF.
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