Saturday, May 23, 2015

Take Profits on Natural Gas

The price of natural gas has spiked 15% higher over the past month.
 
Ultimately, natural gas prices are likely to trend even higher over the next few months. But in the short term, the commodity is due for a breather.
 
So if you took our advice and bought natural gas in April, it's time to take your gains off the table and wait for another pullback to get back into the trade...
 
Take a look at this updated chart of natural gas...
 
 
Last month, I suggested an inverse head-and-shoulders pattern was developing on the chart. This is a bullish pattern that signals the end of a downtrend and the beginning of an uptrend. The left shoulder and the head of the pattern were already in place. All that was left to complete the pattern was a rally back up to the neckline followed by a drop back down to a higher low – which would form the right shoulder.  (more)
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