Direxion Daily Nat Gas (GASX)

[THREE-DAY-TRADER]

I had my (12+ area) stop-loss threshold based upon specific criteria of FCG needing to hold as resistance, along with Crude Oil factor needing to hold 43.50/barrel or less resistance.

When I saw that 42 Oil area held as support and that it was surging back above 43, I based stop-loss early in morning on 43.50 needing to hold.
At this point, it is distinctly very possible we see Oil above 45+, into upper 40's, all-depending on FOMC meeting today and EIA data in morning today.
API report already gave it a boost since last night.
Anything is possible today. Maybe we see 45-46 area hold for resistance on Oil if FOMC meeting or EIA data surprises today, but until that would happen, Crude Oil has a short term bullish break out potentially forming.
If it does (as I posted earlier) I'll see GASX a great buy opportunity(perhaps near 9-10?) because I don't see Crude Oil sustaining at or above 50. And once Crude oil tops out, I see it gong back to 40 at least and likely back into upper 30's, which would be a great swing trade on GASX if times reasonable close to eventual bottom area.

At a minimum, I see GASX likely getting down into 10's by today (and that only requires crude oil to get to about 45.50-46).