Bear case: A fifteen-day weather forecast shifted moderately warmer.
Bull case: producers stop pumping.
My case: I don’t know which way it will go. Technically, it hits support. It will bounce around this support level. Then it will move up, or down. Nobody knows for sure.
If you’re a counter trend trader, the risk is small but reward is huge. However, your winning percentage will be less than 50%. You have to cut your loss quick.
If you’re a trend trader, risk/reward is not good. You have to use a wide stop. But your winning percentage is high. It will give u the confident to pull the trigger for the next trade.
This is a counter trend trade.