Natural Gas weekly downtrend opportunity based On 1.00 Lot Calculation:
- US natural gas storage volumes declined for the third consecutive week and remain below the five-year working average. US Energy Information Administration reported on March 18 that US natural gas storage in the week ended March 12 decreased by 11 Bcf, to 1.782 Tcf, which was a smaller than expected draw.
- The weather is expected to remain warmer than normal for most of the East coast for the next 6-10 day as well as during the next 8-14 days.
- The natural gas markets are going to continue to see a lot of pressure due to the fact that we are getting towards a warmer time of year, and as the northern hemisphere heads toward spring.
Natural Gas , March 19, 2021
Current Price: 2.509
|
NATURAL GAS |
Weekly |
|
Trend direction |
|
|
2.859 |
|
|
2.778 |
|
|
2.698 |
|
|
2.308 |
|
|
2.230 |
|
|
2.150 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
NATURAL GAS |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
-3,500.00 |
-2,690.00 |
-1,890.00 |
2,010.00 |
2,790.00 |
3,590.00 |
|
Profit or loss in €* |
-2,935.18 |
-2,255.90 |
-1,585.00 |
1,685.63 |
2,339.76 |
3,010.66 |
|
Profit or loss in £** |
-2,510.65 |
-1,929.62 |
-1,355.75 |
1,441.83 |
2,001.35 |
2,575.21 |
|
Profit or loss in C$** |
-4,363.91 |
-3,353.97 |
-2,356.51 |
2,506.13 |
3,478.66 |
4,476.12 |
* 1.00 lot is equivalent of 10 000 units
** Calculations for exchange rate used as of 08:30 (GMT+1) 19/03/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail