Natural gas: long from $4,40 Print
Tuesday, 17 November 2009 19:59

Last week in this article we were highlighting the downtrend movement of the Natural gas future and its proximity to the important support at $4,40. Our scenario was correct as we can notice in the updated chart here below (click on it to view it bigger), you can spot the doji candle drawing an inverted pattern just around area $4,40. We respected our decision and opened long position and are now expecting it to bounce from the actual level. They trading day following the buy, prices increased 5,13% giving us the chance now to have the situation under control. Stop loss is set just below the doji low ($4,285) and first target at $4,95.

natural_gas_update_fibonacci

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