Comments on: Natural Gas UGAZ at Support, Official Price Targets & Stops

By: rsotc

rsotc — Mon, 12 Dec 2016 17:21:43 +0000

Price targets for those long DGAZ as a shorting proxy for natural gas. Note: The actual resistance levels are shown on this 60-minute chart. As such, it is best to set your sell limit orders slightly (about 8 cents or so) below the resistance level(s) that you are targeting. The 4.00 area which DGAZ has hit today is the first resistance level where a reaction is likely & can be used for booking quick partial or full profits for those that shorted nat gas on Friday.

By: rsotc

rsotc — Mon, 12 Dec 2016 16:05:21 +0000

In reply to GetItRiight. Any of these horizontal support levels are potential price targets (unadjusted for an optimal fill) on NG, nat gas futures. With the 3.55 level clearly taken out now, that opens the door for a move down to the next support/target around 3.38. Next S levels after that are 3.30 & then 3.124. Hard to say at this point if 2.5 is likely to be hit before this pullback/correction is said & done but certainly a possibility when I look at the $NATGAS daily chart: http://schrts.co/2QZ248

By: rsotc

rsotc — Mon, 12 Dec 2016 15:56:48 +0000

S1 (1st support level) on UGAZ clearly taken out after a brief consolidation/reaction there in pre-market & early in the regular trading session today. This opens the door for a continued move down to the T1 level.

By: GetItRiight

GetItRiight — Mon, 12 Dec 2016 14:15:40 +0000

Randy, can you please suggest targets for NG futures as well? Do you see it go as low as 2.5?