Natural Gas To Resume Slide?
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
March natural gas
(
NGH1 |
Quote |
Chart |
News |
PowerRating) is in
its first pullback from lows since its recent meltdown from highs. Look for a
shorting opportunity here but use caution as this one is not for those with a
low threshold for risk (or some might say pain).
face=”Arial, Helvetica”>
February live cattle
(
LCG1 |
Quote |
Chart |
News |
PowerRating)
closed well on Monday, reversing Friday’s sell off. This action suggests that
its uptrend remains intact. Look for a buying opportunity here.
February gold
(
GCG1 |
Quote |
Chart |
News |
PowerRating), mentioned
Friday, rallied earlier in the day on Monday but closed off its highs. This
suggests that its downtrend remains intact. Continue to look for a shorting opportunity here.
March unleaded gas
(
HUH1 |
Quote |
Chart |
News |
PowerRating),
mentioned recently, still looks like it has the potential to rally out of a
pullback. Continue to look for a buying opportunity here.
Looking Ahead
March
coffee
(
KCH1 |
Quote |
Chart |
News |
PowerRating) broke to new 6-week highs on Monday. It may be worth watching
for the first pullback over the next few days.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!