Natural gas has been falling practically non-stop since August of 2022 from a high of $9,9600 to $2.5840 today for a loss of some 74.06%. Throughout this time, there was no sustainable recovery in prices. But this decline may had hit a significant bottom tonight.
In the 60-minutes time frame, a counter-trend rebound from this morning low of $2.5840. If this counter-trend can sustained, massive profit-takings may occur. Afterall, this market has been a one-way traffic for the last 5 months and have accumulated a lot of short positions.
#1 Bought #1 $2.7700 - Tue, Jan 31, 00:36am.
# 2 Limit Buy @ $2.6900.
#3 Limit Buy @ 2.6265.
Stop @ $2.5800
Target #1 @ $3.2180
Target #2 @ $3.6000.