$UNG just dumped hard after yesterday's blowoff top on #NatGas futures. Now testing the parallel top and $3.08 support — could be a day trade or aggressive swing long for some.
But here's the thing: price never confirmed above that level, so the support isn't clean enough for me. No confirmation = no trade.
If it drops back to $2.85, I'm probably going long again. Still think there's more upside heading into winter, but I need a proper setup first. Not chasing unconfirmed bounces.
Waiting for the level or staying flat. #NaturalGas
But here's the thing: price never confirmed above that level, so the support isn't clean enough for me. No confirmation = no trade.
If it drops back to $2.85, I'm probably going long again. Still think there's more upside heading into winter, but I need a proper setup first. Not chasing unconfirmed bounces.
Waiting for the level or staying flat. #NaturalGas
