I returned home from vacation last night & have been catching up on the charts today with regular updates & new trade ideas to resume tomorrow. /NG (natural gas futures) is on the move tonight with a big gap up to the first target zone from the 60-minute chart posted in this reply to @rugiii (first chart below).
NG-60m-Dec-5th
After reversing off that 2.975 support level with bullish divergences, /NG has gapped up to the 3.265-3.306 resistance/target zone with some consolidation likely before the next leg up. If & when /NG takes out the upper-most resistance level on this chart (~3.66), that would likely be longer-term bullish & potentially the catalyst to launch a relatively quick rally up to my 5.00ish long-term swing target (and the remaining targets, T6-T8, on UNG). I’ve also added a new resistance/target level around 3.385 on the updated 60-minute chart below.
NG 60m Dec 8th
While anyone that might have taken /NG off that 2.98ish support or already long a position, one might consider raising stops to just below the 3.15ish support (red line) to protect profits at this time. UNG 60-minute chart (as of Friday’s close) below for reference.
UNG 60m Dec 8th