Trade of the week: short natural gas
US natural gas futures prices are expected to resume their medium-term descent which is why we would like to go short at 2.240 with a stop loss at 2.540 and a downside target around the 2.000 mark.
(AI Video Summary)
Previous gold trading outcome
In last week's "Trade of the week" discussion, Chris Beauchamp successfully executed a long position on gold, capitalising on an unexpected surge to its all-time record high of around $2,509.00 per troy ounce fueled by robust demand, locking in roughly $50.00 per ounce in profit.
This week's trading opportunity
Axel Rudolph's focus then shifts to natural gas, where a recent rebound was met with resistance at the 200-day moving average, suggesting potential for a continued downtrend. The trade recommendation for this week is to short natural gas futures at 2.240 with a stop loss at 2.540 and a downside target around the psychological 2.000 mark.
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