Not necessarily. Crude & nat gas often do their own thing although they both often come out of the same wells. Plus, long DRIP is a short oil & gas trade but again, sometimes crude will fall while nat gas rallies but not always. With that being said, a long position on nat gas along with other positions can help to create a diversified portfolio, minimizing the ups & downs as gainers often offset losers.

Most likely trailing stops if/when /NG approaches either of those first two targets marked by the arrow breaks but will assess the charts if & when it gets there. As far as stops at this time, if you’re willing to give it a little room, there is a trio of support levels somewhat below starting with the minor uptrend line off the recent lows, then the 2.482 price support, & then a potential backtest of the downtrend line. If all of those are taken out, that would be no bueno for nat gas.

No, at least not at this time. Crude (and XLE, XES, XOP, etc..) has the potential to fall quite a bit more before the correction is over & possibly before a decent counter-trend rally. However, might not be a bad idea to either take profits if/when XLE gets there or set a trailing stop of anywhere from 3-8%. I plan to do an update on crude & the energy sector ETFs today.

Randy do you recommend trailing /NG or your arrows point at hard final target?

do you plan on going long on XLE around 45? @rsotc

With all the sentiment and trend indicators at the highs, I am trying to avoid the long side. AYX looks delicious TBH, some other stocks at march ’20 lows too.

YW but keep in mind that the various asset classes I’ve been focused on lately such as the equity indexes, crude, & gold, as well as specific sector ETFs such as XLF, XLE, XOP, XES not to mention about a dozen or so large-cap stocks (FAAMGs + TSLA, HD, WMT, JNJ, etc..) have all been shared as trade ideas recently.