Yesterday´s massive sell-off of natural gas sparked many discussions about what is going to happen next. Well, we expect the price to drop further and reach the turquiose zone between $6.482 - $5.858. Here, we believe that the correction will end and turn into a big upward trend. However, if the course drops below this zone, further sell-offs will be triggered.
Allen Andrews gave us great rules. The P5 rule is one of them. As we see in the chart, P5 could be reached. What does this mean? It's an indication that price is at it's peak and a potential turn is ahead. Furthermore we have reached the center-line, where a) price will beak through, revisit and continues or b) price will turn and trade to the opposite...
Hope all profited in that last huge drop today. Price action didn't hit 9 like I wanted, so I got in a little late, but still got in at 8.2 and got out at 7.2 for a very nice 1000 point profit in a couple hours!! NICE! With the hot weather across the U.S. and the LNG terminal damaged, I'm expecting price to go back up - not sure how high, but I put in a Buy...
US natural gas prices posted their worst daily performance since mid-November 2018 today, plummeting 17% to $7.2/MMBtu, as of writing, after Freeport LNG announced early Tuesday morning that it does not expect the export facility to resume full plant operations until late 2022 due to the explosion occurred on June 8. The Freeport LNG facility has a production...
So NG starts off with a drop, but I'm thinking of a bounce Mon and Tue back up to 9. I am looking for a Sell Order at 9ish going back down to 8.2 I will keep you updated as the week progresses. Stay safe. Heiko
WOW!! What a crazy ride eh this past week?? I put my initial order in and I was correct that price action dropped, but not low enough - I had my TP set at 8. Then price went skyrocketing up so I put another Sell order in at 9 and moved my TP to 8.2 And just in the last 45 minutes or so, price action hit my TP at 8.2 and I made out with some NICE profits, one...
I thought price action would fall all the way down to 8, but it didnt. It came down to just under 8.2. Congrats to all who took your profits then!! I was out at the time so I missed the price change back up. Now that price is basically back where I started, it might try to touch 9 again which is where I will put in another sell order. I moved my TP to 8.2...
What Is Tragedy of the Commons? The tragedy of the commons is an economics problem in which every individual has an incentive to consume a resource, but at the expense of every other individual—with no way to exclude anyone from consuming. Initially it was formulated by asking what would happen if every shepherd, acting in their own self-interest, allowed their...
It hit the floor (it hit the floor) Next thing you know NatGas got low, low, low, low, low, low, low, low Okay, these aren’t exactly the lyrics of Flo Rida’s “Low”, but they are fitting, nonetheless, for we expect NatGas to move further downwards below the support at $7.524. Just before the next support at $6.466, though, NatGas should turn around and head...
Looks like my prediction was correct from Friday. I was thinking we may have a spike on Mon and here it is. How long will it last? not sure... But, I'm looking at a top out of 8.8 or 8.7 So I am looking at putting in a Sell Order around there tomorrow or Wed. I'll keep you updated. Heiko
NATGAS / XNGUSD is trading at very important resistance. The price is trading on this price for couple of days with long wick rejection candles. Although the phobia among the European countries is still intact but price action suggest different stories. Wait for breakout or clear rejection before opening any position. Trade your levels accordingly.
NG has been making higher highs and higher lows this past week or so....I'm watching for another pullback today down to 7.7 - I will see if it blows past this point but if it finds some support here then tomorrow or later tonight could be a Buy Order around that 7.7 mark. NG is still looking like it's on a tear so we will see what the report says today and go...
Hello traders and investors, today we will talk about Natural Gas in which we can see sharp and impulsive decline from the highs, which in Elliott wave theory suggests and confirms temporary top in place. From Elliott Wave perspective we can clearly see a completed five-wave bullish cycle within 5th wave at projected 9.0 level. In Elliott waves, after every five...
So NG has been in a bit of a sideways channel lately....what is it waiting for? Some kinda news? I have no idea if it will go up or down or will it end this week sideways? Frustrating as hell but I'm thinking it might drop some next week. Who knows though right? Thoughts?? Heiko
Looking price to go up a little bit and then continue down to take out equal lows.
SO NG is kinda level right now....time to sell or no? Thoughts? Heiko
So I decided to put in a Sell Order at 8.1 with a target of 7.7 over this week. I will keep you updated if anything changes. Heiko