Dec 4,22-NG-How Low Can It Go?
In my last post last week, I gave several reasons as to NG declining in price. I said that it would probably get down to 6, maybe lower.
It opened tonight in a Gap Down situation and now sits around 5.8 - crazy low.
What will it do this week? Good question...
I'm thinking it could get as low as 5.2, maybe touching 5 in a low 'rubber band' touch one day this week.
Longer term I believe price will go up...problem is you have this thing called a Worldwide Recession hanging over us in the 1st quarter next year. This will keep prices down.
You have Winter which will push prices up. And who knows what the War holds.
Bottom line...dangerous time to trade. Unless you have a sure bet (which we never do), maybe best to stay on the sidelines and keep your cash :-)
Stay safe and trade well.
Heiko
It opened tonight in a Gap Down situation and now sits around 5.8 - crazy low.
What will it do this week? Good question...
I'm thinking it could get as low as 5.2, maybe touching 5 in a low 'rubber band' touch one day this week.
Longer term I believe price will go up...problem is you have this thing called a Worldwide Recession hanging over us in the 1st quarter next year. This will keep prices down.
You have Winter which will push prices up. And who knows what the War holds.
Bottom line...dangerous time to trade. Unless you have a sure bet (which we never do), maybe best to stay on the sidelines and keep your cash :-)
Stay safe and trade well.
Heiko
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