Natural Gas - Bought the Dip Again

Traders are done selling for now and will be looking to test the $2 level next in anticipation of August heating demand. A bullish pennant is forming and should break out after price clears above the 50 day EMA.

Moving forward, buying the dip is the play as we head towards Winter.

Opened a long position on the September(U) contract @ $1.795

Trade fermée manuellement:

Closed position as price approaches a fib level at $1.94
Looking to buy again on a dip or after storage report tomorrow.

-1 @ $1.92
Profit: $350

Transaction en cours:

Bought the dip
+1 @ $1.89

Trade fermée manuellement:

Very impressive rally today.

-1 @ $2.00

Profit: $275