chartwatchers

Natural Gas - Almost there

FX:NGAS   Natural Gas (Henry Hub)
2418 38 48
We are only 4-5 days from the cycle bottom in NatGas. I was reading at many forum sides 2 weeks ago that NatGAs has bottomed. They were wrong. NatGas has a very complicated cycle count and for those who doesn't have it better to skip this instrument because more often they will lose money than win.
Do you remember how bulls were crying when I shorted NatGas here ?
ENERGY TRADE 3


Those who are still sitting in the shorts will be able to close their positions in the next 4 days in the panic selling.
Buying in the panic selling is a beautiful thing. And very profitable also.

So the late NatGas bulls will be panic selling in the next 4-5 days as we broke the important support at 2.64$.
We will bottom around 2.4$. But I'm not going to enter at a predicted price now . I will enter in the next 4-5 days as I will be watching how the panic selling plays out.
Comment: 2.3$ is not out of the table....
snapshot
Comment: Entereing to the red zone.
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Comment: :panic:
Comment: Panic selling DAY 2
Minimum 3 more days till the bottom.
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Comment: NatGas data: inventory build.
Bearish...
Of course that someone knew it 2 days ago.
That's why we are in the panic selling...
Someone had to start the selling.
Comment: Again:
The earliest it could bottom is Tuesday.
And maybe we got the bottom only next Friday.
So quiet here today....
Reply
ice_holly01 PRO pbartashevich
Waiting for the bottom this week and jump in the ship.
Reply
Your analysis is spot on; great job. Natty is being hammered relentlessly reflecting panic among the herd. Looks like 2.23 - 2.30 likely downside target at the least. Not sure what kind of upside to expect after it bottoms.
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Arpi, I think that gas will tank along with oil. Gas is an alternative to oil, if oil get cheaper, so should do gas or coal. I understand that they are separate markets but it could be ... thanks!
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Nightstar showerreport
OIL is in the midst of starting a new Intermediate cycle.. it's not about to tank.
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showerreport Nightstar
Hi, nightstar, do you still think that we are in the midst of a new intermediate cycle or do you think that we are above to tank ? Would you call tank 35 USD or 25 USD or 18? Correct me if I wrong but you think that we are going to 55-65 before going again to 35.
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Nightstar showerreport
OIL shot all the way up to $49 when everyone was calling for further downside, so a correction at this juncture was long overdue. I will say this: The severity of this correction is a bit concerning but not unusual, which means this IC could turn into a slow grind. Either way, let's not jump to any conclusions yet.. Let's see how we finish off the week first!

Ps: This is why sound money management is key here and I'm fortunately well diversified to withstand any kind of short term volatility.

Good luck!
Reply
Good to know. Thanks.
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looks like we have swing and a bottom
Reply
No swing yet.
+1 Reply
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