Combustible ? : Natural Gas Futures

Natural Gas Futures

The Natural gas market has not been for the faint-hearted as of late. I must say that from the highs of the winter of 2016 the observable structure is a technical nightmare pulsing and swaying on a whim with no evident pattern in place. What I can say is that from those former highs the pattern is non-impulsive in nature and when studying it further I am deeming it an a-b-c wave decline that has not yet run it's course. I do believe that it is , however, very close to doing so. I have currently honed in on a support zone that I contend will turn this market around. This location rest at +/- 2.25. It marks a channel cross and the .786 convergence level. From here I expect the market will turn sharply higher in a C wave advance. This move should push the futures to my first target level of +/- 3.00. Overhead objective comes in much higher at 3.65. I am recommending a bullish strategy be established , preferably by employing May call options. Please contact me at Walsh Trading to discuss my technique and what I am considering to obtain a favorable risk/reward return.

# 312-957-8108

John Lunney

Senior Technical Analyst

Walsh Trading

312 878 2391

888 391 7894 toll free

312 256 0109 fax

jlunney@walshtrading.com

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Walsh Trading

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