UGAZ (3x Long/Bullish Natural Gas ETN) is under consideration to be added as an Active Long Swing Trade, quite likely shortly after the regular session opens for trading today. I wanted to get the chart out in advance for those interested or already in a nat gas position via /NG (future), /QG (Miny futures contract), UGAZ, UNG or any other natural gas trading proxies.
UGAZ 60m Jan 10th
The price targets are shown on the 60-minute chart above and as I’ve always included only regular session trades for the entries & exits on the official trade ideas in the past, I’ll follow up with a suggested stop when/if I make UGAZ an official trade based on the entry price at the time. Due to the 300% leverage & volatility of nat gas, the suggested beta-adjusted position size for this trade will be 0.25 – 0.30.
$NATGAS New Years Rallies Jan 10th
In recent years, I’ve highlighted a fairly consistent pattern of natural gas prices rally around year-end followed by equally sharp or greater corrections shortly before or after the new year. While it is possible the New Year rally came earlier than usual in late 2019, a decent case can still be made on the longer-term charts of nat gas that the New Year’s rally is still yet to come & may be getting underway soon, if not already.