So, we are back with another trend analysis and new support/resistance levels.
We have had a major pullback from our latest resistance level of 3 back to around 2.8~. Which is fine, its natural.
But I still strongly believe in a major bull run and upside in natural gas, which is why I believe we have to go higher, and we will in the last 2 quarters of 2023.
We...
- Natural Gas Natgas Stock in daily neutral trend
- Natural Gas Natgas needs a daily trend change to uptrend
- Next level for natural gas needs break above 2.86
Upon closer examination of the near-term wave subdivisions, I call back the statement that initial wave (a) of the remaining 2023 uptrend might be complete and replace it with a diagonal.
Again, I have to cautiously mention that such projections are very speculative at this stage. I shall be ready to alter my view at any point if I receive new information.
Big move down today!
But! i still believe we have a potential huge upside.
We could go a little lower to a support level around 2.5~
but we should go up over the coming week(s).
I expect a target price around 2.7~ and after that, another move upwards towards 3~.
lets see what happens!
Good luck!
✅NATGAS is making a rebound
From the support level of 2.42
So I think that we will see
A further move up
LONG🚀
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All year EQT, an unloved natural gas producer has been a swing trader's paradise. I've harvested so many gains from these E-cutie trees I thought I'd make a thread just for it and post trading updates.
The macro technical picture is clear. Years of being battered by shorts ended with capitulation in 2020, followed by a swift rebound. Fundamentals are tightening....
Possible upwards move in Natural Gas as of tomorrow - when we get news about the gas storage.
Possible catalysts:
How weather both in Europe and in USA.
Good luck!
UNG & BOIL are looking poised to mive higher.
Energy trade is looking very optimistic from a technical standpoint.
This Bull flag target takes you to $3.25
We've seen NATTY with a similar but a larger set up prior to the huge bullish movement from 2020 to 2022.
I believe that we'll see a retest of the 2.400 area before making it's move higher.
Let me know what you think.
With the current clima, demand for natural gas for AC-cooling, there is a good foundation for a bullish move in Natural Gas.
1. Lets see a move upwards to the 2.8
2. Maybe a slight pullback
3. And then the big move towards the 3-3.05 level
Also bakced by the fact that Buffet have bought into LNG so lets see if the trend can hold.
Good lucK!
If you wanna take a trade on NATURAL GAS, maybe before that, you need to conisder this KeyLevels of support and resistance areas.
Careful with shorts until on daily is bullish / upptrend + August and september is coming , when de big companies refreshes their stocks for the winter
I believe the leading diagonal wave (a) has ended, and we are now in wave (b), which can take various forms (including the possibility that it has already ended). I suggested a few possible paths.
Once there is a pattern or a mature wave count in wave (b), I can make an assumption when exactly the next leg up will occur.
Natural gas, which fell sharply from $ 6.5 to $2 is trying to recover again.
During this process, critical levels were determined. These levels appear at $2.10, $3.50 and $5.50.
As long as it does not fall below the $2.10 level, I can say that the $3.50 targeted buying opportunity in natural gas continues.
Huge sell of occurred after breaking it's previous support, turned resistance.
I'd be looking to buy of the resistance @ around 2.050 with the aim of it reaching the broken support.
If it finds resistance there then we might see a H&S pattern emerge which could be severely bloody.
With recession peaking over the corner, this could well play out.
Just my...
Is WTI going to suffer the same fate as Natural Gas ? Endearingly referred to as Natty ? Well the good ship Natty got REKT last week. The long side which was overcrowded, overleveraged caught the "to da moon" bagholders off guard . Stunned whilst spitting out the kool aid they were seen gasping for air when the dead cat bounce rocked the boat ., Natty...
Natural gas is increasing in value due to several factors: the unprecedented wildfires in Canada that are ravaging the country and are disrupting the production throughout the province of Alberta; Reuters also reports that Russian pipeline exports had declined 11.4% this month compared to April’s average, putting an additional hold to the fuel supply.
The RSI is...
