Back in June when price was trading around $3 we were bearish looking for a decline towards $2.70-$2.60.
#NG #NatGas false upward breakout??? all stops got hit and the party starts now…to the downside…. pic.twitter.com/CZaXbFGPcu
— Alexandros Yfantis (@alexanderYf) June 18, 2018
Prices eventually fell… but in mid July I closed most of my short positions and let the rest run with a trailing stop. I was expecting the end of the decline and the start of a bounce… prices bounced…
#NG #Natty #NatGas bears should not get too greedy….already closed half short position and playing rest with a trailing stop…..bullish divergence signs are a warning to bears. pic.twitter.com/Inlh1Rbd8e
— Alexandros Yfantis (@alexanderYf) July 19, 2018
On july 19th my entire short position was closed and warned bears that this was not the time to be short.
#NG #NatGas this is not the time to be short Natty imo. Closed all shorts and took profits yesterday…. pic.twitter.com/iKwMJPK8Vt
— Alexandros Yfantis (@alexanderYf) July 20, 2018
Now back at major long-term resistance I believe this is a sell zone for Natural Gas.
I have already initiated a short position and will look to add more for a fast move towards $2.82-$2.80 once we break below $2.90.
