Oh, guys, I am still in Ukraine. Finally at least one day without rain here. We couldn’t miss that opportunity to visit Andriyivskyy Descent. Its historical center of Kiev. By the way once of my favorite movies was shot here (“Chasing two hares” 1961). I am not sure if it is translated into English. But this comedy is really good. I still use a lot of phrases from the movie.
Anyway, let’s move on and talk where we can make money till the end of this year. As you likely know natural gas has a very strong seasonal factor. Winter is coming and no one wants to be frozen 🙂 Europe is one of the biggest gas buyers. Yup, there is no much of gas in EU. There are signs of accumulation in smaller time frames. But I don’t trust it. We need to get a signal on daily or weekly chat to rally and reach 3.00 or above. Natural gas is trading not far from psychological level 2.00. I would like to see so-called washing out low (or false break down) before institutional traders will jump and reverse the trend with big volume. Till that time we can see a small rally, as a part of consolidation. But we need to be focused and catch a big trend. If that happens, we could use pyramiding to get max profit from the rally. Well, 40 – 60% from such trade in managed accounts would be a good reward 🙂
Copper has an interesting setup on monthly chat. I believe you know it reflects global economic health. So, fundamentally more slowing down in the economy will be the main factor to break monthly support near 2.5 and go for 1.50. We still should see at least a few months of consolidation to finish triangle formation. I have to say steady improvements in global economic growth will cancel this forecast. So, watch it carefully. As for now, we can only scalp copper and wait for a big trend and big profits.
Have a profitable week!
Hi! My name is Inna. I turned $10k into $3 millions in a few years of trading. I am here to share my success and help you to become financialy free. You are welcome to my website!