This is just a simple technical chart showing the area that I'm keeping on my watchlist to potentially be on the bid for Nat Gas which is the support / demand area highlighted around the 2.500 area. This is still bearish on higher time frames, and well below the D1 200 Moving Average so do keep that in mind. Seasonally this is around the time when suppliers /...
NGAS Natural Gas Pitchfork Break Down Natural Gas price has broken down out of its pitchfork channel from the peak of $3.1 Charting further test of support levels at 2.534, 2.471 and 2.437 I'm currently long and will be looking to reduce the average cost of my position by short selling.
The 60 min trend is down ,looks like one more leg before it turns .
Gotta play the waiting game here but leaning to the short side either at confirmation of the break of trend or back at the to of the speed line (likely tomorrow on inventories if that occurs)
I am a litlle bit late with poblishing but as you can see these is why i think market is retracing. First there is ABCD pattern " witch normally is retraceble up to 38 % of the AD leg Second we have divergence on stoch while the market is going up. Third - structer is verry importent.
Due for some pullback, nobody can deny that.
UPDATE FULL target hit. Looking back for a long now. --------------------- NGAS met heavey resistance we have a bearish divergence in RSI and MACD, looks like it is going to retrace some, before further upmovement. The blue line looks like a level to respect in my opinion, because of the double bottom it made there and from there it went steeply up.
Hope this helps ,will look for more charts to make a more detailed analysis. This is not a trade call .
Hallo Looking to go long around 2.515 Oil is rebounding so ngas may do the same. Have a nice trades folk
Waiting for Friday to close outside of blue trendline. If so, I will open a position on Monday (shown on the chart). Note the huge symmetrical triangle. But don't be hasty - wait for confirmation of breakout. Long term view:
Friends, Natural gas ($NGAS) is coming to a technical floor per Elliott Wave count as well as predictive/forecasting model. WAVE ANALYSIS: - ELLIOTT WAVE: Price action in this 8-hour chart illustrates a recent down-swing consistent with an Bearish Elliott Wave impulse, whose internal construction suggests a near completion, as price appears to negotiate a...
Natural gas (03.12.2014) made high round $4.6 on unexpected cold front in November month while upcoming mild weather forecast forced trader to book profit on higher levels. On fundamental side, mild weather in US expected to continue for coming 2 weeks & will put more pressure on prices. On other hand current inventory level of natural gas is 3432 bcf which is...
Winter months are here. The East Coast of the US is experiencing low temperature and snow. Demand for Natural Gas usually increases in the winter months. The price of Natural Gas has been climbing since late October and will probably keep rising throughout the winter months. I remain bullish NGAS to 5.10 which is the 61.8% Fib extension from the up move and it...
Hi Traders, As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18. Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher. TARGETS likely: 5.10-5.13 possibly: 5.37-5.38 ELLIOTT WAVES This new uptrend is nothing more than "wave 3" of the recently started...
Hi Traders, As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18. Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher. TARGETS likely: 5.10-5.13 possibly: 5.37-5.38 ELLIOTT WAVES This new uptrend is nothing more than "wave 3" of the recently started...
Hi Traders, Natural Gas (now at 3800) started a major uptrend as 2 days ago as predicted. It's now to retrace a bit to 3760-43 before resuming the uptrend to 3924-50. That should mark the top of "sub-minuette wave 1". As you can see by the 2-hours chart above we're still plenty of time to get on board for a long position. ELLIOTT WAVES The letter "C" at the...
Hi Traders, The end of the line of the downtrend of Natural Gas (now at 3601) is very much in sight. This sputtering downtrend is to be followed soon by a significant reversal that would mark the beginning of a major uptrend. The attached 1-hour chart displays the sub-minuette waves 1 and 2 (in green, bottom right) as part of a group of a 5 waves down that...