Nat Gas (UNG, NG) Retracement Long

16 oct. 2023

Considering a trend continuation long in NG here. Per the attached charts (also using futures for zoning), we've had a decent pullback and are nearing intermediate-term (daily) demand. Using the futures chart, there are multiple 15-minute demand zones stacked 3.058-3.006. So, if we penetrate that zone (flirting with it now), look for micro timeframe reversal cues. Looking for a solid swing from this one, so we'll see what happens! Quick take, but want to get this posted as the trade is setting up as I type.

Godspeed!

Jon @ LionHart Trading

16 oct. 2023

Note

Level has been frontrun on account of the November ng contract barely penetrating a small timeframe demand/buy zone @ 3.058. We'll have to see if NG rallies from here or if this bounce is a fakeout reaction awaiting a flush down, deeper into demand.