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Natgas

Elliott Wave Analysis: Natural Gas Confirms Temporary TopHello 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 waves, we can expect a three-wave A-B-C reversal, so with current five-wave drop from the highs, seems like Natgas is now slowing down within a higher degree (A)-(B)-(C) correction. Well, wave (A) seems to be completed now, so we may now see a three-wave A-B-C corrective rally in wave (B) that can retest 7-8 resistance area and form a nice Head&Shoulders pattern before we will see another sell-off for wave (C). Happy trading! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NYMEX:NG1!
by ew-forecast
3
💡NGAS (NAT.GAS) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 5.194, resumption of uptrend is expected. We make sure when the resistance at 8.176 breaks. If the support at 5.194 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low. A trough is formed in daily chart at 6.485 on 04/25/2022, so more gains to resistance(s) 7.458 and maximum to Major Resistance (8.176) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index ( RSI ) is 61. Supports and Resistances: 8.827 8.176 7.458 6.520 5.835 5.194 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
CAPITALCOM:NATURALGASLong
by ForecastCity_World
7
💡NGAS (NAT.GAS) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 5.194, resumption of uptrend is expected. We make sure when the resistance at 8.176 breaks. If the support at 5.194 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low. A trough is formed in daily chart at 6.485 on 04/25/2022, so more gains to resistance(s) 7.458 and maximum to Major Resistance (8.176) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 61. Supports and Resistances: 8.827 8.176 7.458 6.520 5.835 5.194 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
CAPITALCOM:NATURALGASLong
by ForecastCity
2
USOIL - Russian oil ban = higher oil pricesMore than a week ago, we warned about potential EU's ban on Russian oil and the risk it poses for the higher price of oil. We suggested that this step would lead to higher prices of oil in the short-term. Just two days ago, Germany was reported to back a gradual ban on Russian oil. Because of that we abandon our short-term and medium-term price targets. Although, our long-term price target remains in place. Technical analysis - daily time frame RSI points to the upside which is bullish; however, over the past few days, it shows choppy pattern. MACD oscillates near the midpoint; if it manages to break above it, then we expect it to bolster a bullish case for USOIL. Stochastic is bullish. DM+ and DM- are bearish but due to perform bullish crossover. ADX signals presence of no significant trend. Overall, the daily time frame is bullish for USOIL. Illustration 1.01 The illustration above shows the rectangle pattern - in which most of the choppy price action has been going on lately. Technical analysis - weekly time frame RSI is neutral. MACD is highly elevated and flattening at the same moment, which makes it neutral. Stochastic reversed to the upside. DM+ and DM- show bullish conditions in the market. However, ADX's signals that these conditions deteriorated over the past four weeks. Overall, the weekly time frame is mixed. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOIL
by Tradersweekly
3
NatGas: GeyserLike a geyser, NatGas is spouting upwards from the white zone between $6.255 and $6.684. We expect it to have enough drive to reach the resistance at $8.065 soon. There, it should gain some more momentum to make it into the orange zone between $8.559 and $9.241, where wave (5) in white as well as wave iii in orange should end. However, there is a 42% chance that NatGas could rebound off the line at $8.065 and subsequently drop below $6.466. In that case, it should fall into the green zone between $5.687 and $4.939 first before rising back above $6.466 and further toward $8.065.
NYMEX:NG1!Long
by MarketIntel
1
USOIL - Choppy but still bearishYesterday, we showed a bearish breakout in the RSI of USOIL. Although, later, during the trading session, this breakout became invalidated, and RSI moved back above the horizontal support. Despite that, we remain bearish on the USOIL, and our price targets stay in place. Illustration 1.01 The idea above shows yesterday's intraday breakout below the support in the RSI on the daily time frame chart. Technical analysis - daily time frame RSI, MACD, and Stochastic are all bearish. The same applies to DM+ and DM-. ADX exhibits growth which signals that the bearish momentum is gaining strength. Overall, the daily time frame is bearish. Illustration 1.02 The picture above shows the retracement in the RSI on the daily chart. Technical analysis - weekly time frame RSI and Stochastic are bearish. MACD performed a bearish crossover recently; however, it remains in the upper area of the bullish zone. DM+ and DM- show bullish conditions in the market, with ADX suggesting their further deterioration. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
TVC:USOILShort
by Tradersweekly
2