Potential good risk/reward opportunity for Natural Gas.
Due to:
- 85% chance of La Nina winter conditions (lower than avg temps in Dec, Jan and March)
- Ongoing conflict in Ukraine and Middle East, which may intensify
- Chart patterns which indicate low(er) risk entry opportunity
NG 
UNG
I will accumulate around here, near $13, and potentially around $11 if it drops down there.
Though it seems we have seen the bottom.
Price may only double, but if there is a strong rally, following take profit points are possible, most likely between Dec 2024 and March 2025:
$76
$87
$115
(Note: NG Bull runs typically last 8-12 months from bottom to peak, so there is a chance prices will bottom out in ~Dec 2024 and peak ~Dec 2025.
I will be accumulating here though.)
Due to:
- 85% chance of La Nina winter conditions (lower than avg temps in Dec, Jan and March)
- Ongoing conflict in Ukraine and Middle East, which may intensify
- Chart patterns which indicate low(er) risk entry opportunity
NG UNGI will accumulate around here, near $13, and potentially around $11 if it drops down there.
Though it seems we have seen the bottom.
Price may only double, but if there is a strong rally, following take profit points are possible, most likely between Dec 2024 and March 2025:
$76
$87
$115
(Note: NG Bull runs typically last 8-12 months from bottom to peak, so there is a chance prices will bottom out in ~Dec 2024 and peak ~Dec 2025.
I will be accumulating here though.)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.