We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of the December Natural Gas Futures (NYMEX:NG.Z13.E).
I hope you are having a GREAT week !
This week we will take a look at December Natural Gas.
When trading futures with the MarketClub system we use the weekly Trade Triangles for the trend and the daily Trade Triangles to time the entries and exits.
Natural Gas has put in a green weekly MarketClub Trade Triangle and has put in a red daily MarketClub red Trade Triangle.
That is a setup to consider buying Natural Gas if the daily Trade Triangle goes back to green and the weekly stays on a green Trade Triangle.
This looks like a good place to go long Natural Gas, if it trades higher from here, because it might breakout to the upside from a sideways base soon and a MarketClub buy signal and breakout of the base would definitely put the odds with higher prices.
Natural Gas looks like a market that has great upside potential right now and is a great Chart to Watch.