Natural Gas Hits 8 Week Highs

Natural Gas Futures---Natural gas futures in the February contract is trading higher by 13 points at 3.26 hitting an 8 week high despite the fact the warmer weather has entered the Midwestern part of the United States as the bullish trend continues in natural gas and in the energy sector as a whole.

Natural gas prices are trading above their 20 and 100 day moving average as this trend clearly is to the upside with the next major resistance at the 3.32 level and if that is broken I think we will retest the September 19th high of 3.45 in the coming weeks ahead so stay long.

I have been recommending a bullish position from the 2.78 level and if you took that trade continue to place the stop loss at 2.74 which is the 2 week low, however come Fridays trade the stop loss will be raised on a daily basis therefore lowering the monetary risk as the chart structure is starting to improve on a daily basis.

As I've talked about in many previous blogs I am very bullish the stock market and the commodity markets across the board as I will not take short positions except in the bond market which hit a new contract low in today's trade as growth is upon us for the 1st time in almost a decade as I think there could be some remarkable trends to the upside in 2018 so stay long.




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