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.
1. This content is for information and educational purposes only and should not be considered as an investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital be involved which you are prepared to lose.
2. Remember, YOU push the buy button and the sell button. Investors are always reminded that before making any investment, you should do your own proper due diligence on any name directly or indirectly mentioned in this article. Investors should also consider seeking advice from an investment and/or tax professional before making any investment decisions. Any material in this article should be considered general information, and not relied on as a formal investment recommendation.