As we are getting close to the winter I'm also watching the Natural Gas December and January futures as price most probably will peak at the end of the year.
Yesterday's chart was very interesting in both.
Though we lost both the 50 and 100 SMA I think price finally is ready to bounce again.
The decline was much more severe than I was waiting for. (Fibonacci...
On the 5th of August NatGas printed a multi year low.
28 +1 day later we tagged the 200 SMA
Before I start the update , I suggest you to read this idea from April:
I was a bit early there, but actually nothing has changed: we started a new 3 year cycle. And in this 3 year cycle I...
It looks to me we had started the bottoming process in UGAZ .
Price broke below 13$ with no follow through and on August 5 we broke below 11.69$ and started to recover on the next day .
The weekly chart of NatGAS last week printed a hammer which often signs the end of the downtrend. This week we have the follow and the weekly...
You must have heard about the 2 Aramco (they're doing an IPO soon btw...) sites drone bombing.
Interesting time for this to happen...
Unsurprisingly the market reacted strongly.
Pretty much every thing gapped.
Dozens of currency pairs... Oil is going to gap pretty sure.
And NatGas gapped.
It's probably (yet another) overreaction.
I was eager to short this...
Natgas went on a little bit of a run however I expect further downside with no short squeeze or "new bottom" in sight for the moment. I am expecting pullback to the 2.22 area where enthusiasts can go long.
I suspect natgas will struggle to get much over 2.7 (and albeit only gradually increase) as a result of an increase in production/storage and poor(er) economic...
Natural Gas has caught many off guard with the recent rise off August's 2.040 bottom. We decided it would be more useful this time to look on the long term (1W) patterns for clues on the dominant trend.
An interesting pattern that stands out is on the 1W log chart. This shows NG trading within a long term Channel Down since late 2009 with clear Lower Highs and...
Outlook on natural Gas, just a continuation of the downtrend thats been in place, looking for bearish momentum to continue in line with trading strategy we using for Natural gas and Oil( Brent and Crude)
Trading system and levels posted here:https://www.energyexch.com/showthread.php?p=12546443#post12546443
Use this as a guide to develop your own setup
Main items we can see on the 4hs chart:
a)The price is against a Weekly resistance zone
b)We saw a clear rejection of that level
c)On MACD we can see a bearish Divergence showing the weakness of the current bullish movement
d)The current ascending trendline was broken
e)We will wait for an ABC pattern o something...