Long
LNG Natural Gas Energy Play Long
$AMEX:LNG
LNG having trended down with the fall in the price of natural gas is now sitting in the support zone.
I anticipate an up-trending retracement to potentially as up as the resistance zone.
Rising relative volume and rising relative strength lend support to a reversal as does
the consolidation in the price of natural gas after a recent fall.
As a swing long trade the stop loss is below the support zone with the first target of about $ 160 or a 50% retracement
and the final target at $ 167 before resistance.
LNG having trended down with the fall in the price of natural gas is now sitting in the support zone.
I anticipate an up-trending retracement to potentially as up as the resistance zone.
Rising relative volume and rising relative strength lend support to a reversal as does
the consolidation in the price of natural gas after a recent fall.
As a swing long trade the stop loss is below the support zone with the first target of about $ 160 or a 50% retracement
and the final target at $ 167 before resistance.
Trade closed: target reached
Call options trade completed today. LNG @ $170 in consolidation at target resistance.
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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.