We entered a natural gas trade on Tuesday, which turned out to be profitable… just like the previous ones! Let’s have a look at how we can continue.

If you are one of Sunshine Profits’ subscribers, you should have come across our recent gas trade plan recommendation, published in our Tuesday’s “Oil & Gas Trading Alerts” edition.

Trade Plan

Our initial trade plan was to go long on Natural Gas [NGX21] (November 2021 contract) around $4.766-4.920 support (yellow rectangle) – with stop below $4.615 (red dotted line) and targets at $5.311 and $5.604 (green dotted lines) – See Fig. 1.

The entry got triggered in the early hours of Tuesday; as you can see, the market made a rebound where the bulls took over. Our first target at $5.311 has just been hit — for those who exit partially, we suggest lifting the second target to the $5.663 level, while your stop should be lifted just below the new/recent swing low ($4.825) or at breakeven.

Figure 1 – Henry Hub Natural Gas (NGX21) Futures (November contract, daily chart, logarithmic scale)

All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' employees and associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

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