- UNG falling wedge still intact
- potential lacking follow through on the bears on Friday
- Natural Gas needs to confirm 1h uptrend as their very first step
I've been bullish and trading natural gas (BOIL EQT RRC) for a while now and recently sold on the last pump to 2.6
I'm reloading now, as I'm looking at a few things technically I like
-Price appears to have found support on a flattening 20DMA , and will next watch to see if we start trending up
- The low in May was higher than April , and almost forming a...
On the daily chart KOLD has been testing resistance since February with a single touch in
February , a head and shoulders in April and a double top in early May. It is now retracing
due to the rise in natural gas prices in the past 10 days. A support line from a prior
retracement in early March is drawn at 41.45. This analysis is further supported by the...
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 trading inside a Triangle, with the 1day MA50 as the Resistance.
The critical level is the 1day MA100. If the price breaks above it, target the gap from 2022 at 4.000.
If the price crosses under the Triangle's bottom, target Fibonacci 2.0 at 1.100.
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NATGAS weekly data is conveying massive accumulation at the current price range of 2.0 to 2.2.
Target by Winter/December will be a 6.0-8.0 price range.
TAYOR.
Who says you can't chart 3X leverage?
Got a nice down channel here and about to hit the bottom of the channel.
4.20 at the end of next week would be a nice price.
That would be over a 96% drop from the top. Interestingly, the previous peaks in Nov 2018 and Feb 2014 dropped just over 96% before touching the channel bottom.
Could overshoot below since it...
- AMEX:UNG AMEX:BOIL VANTAGE:NG Still trading within my falling wedge pattern is getting tight so likely breaking soon
- Bounced off of quadrupole support Friday
- couple of resistance level right above us may test the upper falling wedge resistance next week
✅NATGAS has retested a key support level of 2.00$
And as the pair is already making a bullish rebound
A move up to retest the supply level above at 2.28$ is likely
LONG🚀
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This is a serious bear... I am giving my short term/long term outlook here.
Setting up for near term buy. Longer term I believe there will be another low coming. A wave 3 low is currently setting up with a long side wave 4 counter trend trade opportunity.
Here is a Monthly Linear Chart with my anticipated pathway and target price for a longer term buy.
NATGAS weekly data is suggesting firm price foundation at current levels and an upside continuation is inevitable.
SPOTTED at 2.4 (continuation from 2.0 levels)
_______________
Related news:
Nat-Gas Prices Rebound on Outlook for Cold U.S. Temps
www.tradingview.com
NG correction is slowly concluding -- with bears showing some weakness on weekly data, after touching the order block support at 1.9 level.
A reversal is on queue now.
Expect some signficant moves on the upside soon -- a revisit to 7.0 before year ends is possible.
SEEDED L at 2.09
TAYOR.
- AMEX:NG AMEX:UNG AMEX:BOIL needs that 4 hours trend change otherwise even the big moves will essentially just fade
- still a potential weekly bear flag
- but still holding bottom wedge support and also double bottom on daily.
NG, is undergoing significant accumulation at the current levels. It revisited strong order block / support at 1.9 level and it touched this multiple times. It retested it and bounce back-- only to return to it multiple times. Let's see if it can finally muster strength to reverse from this level.
Spotted at 2.10
TAYOR.
- AMEX:NG AMEX:UNG AMEX:BOIL cant stress enough we need to change trends, even if it is a very big move it will just fade if no trends are changed
- need to change the 4h and daily trend to the bulls
- likely tightening up in a equilibrium into May, still holding the teal support line.
NATGAS / 4H
Hello traders, welcome back to another market breakdown.
NATGAS has been trading in a down trend, the price is extremly oversold. I'll be looking for a short squeeze setup once it get to my level.
Tarde safely,
Trader Leo.
