2019 2020 2021 CME NYMEX: NG Natural Gas Futures Trading Strategy - bottomed out
Natural gas prices seem to have bottomed out.
It is very likely that the prices will drop again because they have hit a strong resistance line. Two important levels are $ 2.31 and $ 2.15. If they keep the 2.31 line, it could be a signal to go up.
As the price flow has not established a platform to rise, it is not clear when opportunities to buy will come. What we can think of, at this point, is waiting for a buying opportunity, not for selling. It may take a lot of time.
[CME NYMEX: NG Natural Gas Futures Weekly chart]
It is very likely that the prices will drop again because they have hit a strong resistance line. Two important levels are $ 2.31 and $ 2.15. If they keep the 2.31 line, it could be a signal to go up.
As the price flow has not established a platform to rise, it is not clear when opportunities to buy will come. What we can think of, at this point, is waiting for a buying opportunity, not for selling. It may take a lot of time.
[CME NYMEX: NG Natural Gas Futures Weekly chart]