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New Signal: Natural Gas (NG) Is Setting For Potential Breakout

Natural Gas (NG) price starting to behave better since hitting our $1.40 price level from our SHORT trade signal at 1.65. Now when NG price is back above 50 day moving average and formed a near term support at $1.70, we can look at the declining trend line resistance on chart and see a possible breakout above it (see chart below). NG will need to hold above 1.65-1.70  and break above 1.84 to get that positive momentum going. The trade here provides good risk reward with a BUY at current 1.78 price level and a first take profit target at $2.0 and a second at $2.50 for a start that is 30% above current price. on the downside, traders can protect this trade with a tight STOP LOSS order at the important number mentioned above at 1.65-1.70.

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