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CLETE
Nat Gas Buy???
posted Aug 13 '12 by clete
The chart for natural gas looks pretty interesting.
I don't really think that natural gas is going to start a new long term up trend. In fact, long term I expect just more of the same multi-year sideways movement. But for the short term, the 200 day moving average should act as support at current levels.
I'm thinking it might have another day or two of sideways to slightly downward movement where it will touch the 200ma. I'll be watching for a reversal candle and then I might buy a natural gas etf for a few week's long play to the up side.
Initial target would be aprox. $3.00. Stop loss would be any close below the 200 ma
Clete

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