Weather is pointing to a possible cold weather returning sometime in January, but still too far out to be certain. However, looks like bears have starting covering their positions and are flipping long again in anticipation for the next winter spike. I'm short-term bullish. I think we get a technical bounce as high as 4.05 before we see some light profit taking. ...
Natural Gas has given back most of the gains achieved since the November 5 non-technical super aggressive rise, and it is only natural to assume that the downside gap will be closed completely. Our sell targets are therefore 3.440 and 3.315. If those are filled then the 1D chart may complete a Head and Shoulders pattern by trading sideways within the 3.110 - 3.357 ...
The current trend is uptrend and the forecast is continuation of uptrend.
While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 4.755 on 11/30/2018, so more losses to support(s) 4.400, 4.050, 3.800 and minimum to Trend Hunter Buy Zone (3.600 to ...
NATGAS Buy Idea @Daily Demand Zone (2.673 - 2.613)
Buy Limit: 2.676
Stop Loss: 2.591
Take Profit: 2.932
Risk Management = 0.01/$100
Close partially the contract once it reaches 50% of profit, Move stop loss over the entry level
Close partially the contract once it reaches 80% of the profit
The price has been trading within a 1D Triangle (STOCH = 54.147, CCI = -6.0758, Highs/Lows = 0.0000, Ultimate Oscillator = 50.527) since the mid November peak. This has now created the perfect break out set up to trade. Whichever level breaks first (4.807 Resistance or 3.993 Support) will indicate the long term direction (long/ short respectively). Based on how ...
Natural Gas is waiting at important support area also i see bullish divergence at macd histogram on 4h chart.
*** I suggest you to use less leverage.
Have a nice day,
Hi there. Changing pattern formation. Price is forming a continuation pattern for more upside. But on bigger time frame we still see the down move. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Will trade the breakout either up or down. Measured move highlighted in green and red rectangle boxes.
Volume confirmation would be welcome but not required for me to trigger the trade. Will update once triangle is resolved.
Upside target 5.5
Downside target 3.5
NATGAS is now probably at levels where it is just short of breaking the above resistance trendline !!
#NATGAS Buy above @ 4.540 on Hourly chart with sl @ hourly low of last candle or at 4.450 !
Add more longs above 4.670 on hourly for targets of 4.9 !!
This is a big one, I want this chart in my history. Giant flag/symmetrical triangle.
Warmer Dec than expected and we break down hard! But this is a bullish pattern and continues upwards. Lots of ways to play it, might be wise to just wait for a resolution/breakout first instead of front running.