hey traders,
I was asked to share my thoughts on nat.gas :)
on a daily the market has reached a key level of support:
conjunction of horizontal support with a falling trendline of a broken channel and rsi divergence.
I think that buyers will push the market to higher levels.
Key levels of resistance are:
2.37
2.47
Fundamental Analysis: It’s been nearly three years since the world’s top oil exporter and OPEC’s de facto leader Saudi Arabia forged an alliance with Russia to start managing oil supply with the hope of rebalancing the market and ensuring, in their words, market stability, in other words—higher oil prices.
While they have managed to put a floor under oil prices,...
A technical pattern which has had a virtually 100% success rate is in effect now: look for positive and negative divergence on the CCI, coupled with a PPO-9EMA crossover and a break of support or resistance. There has not been a crossover on the PPO yet but it is flattening out nonetheless. Right now I highly suggest scaling into UGAZ and setting a stop below the...
You must have heard about the 2 Aramco (they're doing an IPO soon btw...) sites drone bombing.
Interesting time for this to happen...
Unsurprisingly the market reacted strongly.
Pretty much every thing gapped.
Dozens of currency pairs... Oil is going to gap pretty sure.
And NatGas gapped.
It's probably (yet another) overreaction.
I was eager to short this...
$NG1! prices have been depressed for so long, that the only play this year has been short.
As we look ahead to the upcoming winter season, we usually get a strong rally as traders buy the rumor or fear of a harsh winter. Once reality sets in and winter arrives, prices usually sell off.
There's an opportunity for traders to get in and play the fall...
The oil patch is full of boom and bust opportunities. One pick that we like is $CRK.
With $CRK, you're betting that nat gas prices have finally bottomed and that Dallas Cowboys owner Jerry Jones has found a hidden diamond in the rough.
Yesterday's headlines:
Comstock Resources (CRK +19.5%) spikes to its highest levels in six months on much heavier than usual...
Natural gas has been in downtrend since earlier this year. We recently had a break out of the downtrend and make a retest. Price is looking to break 2.350 resistance with a Inverted Head & Shoulders pattern indicated our move up.
We'll be looking for buy entries around this area and will target 2.650s.
EARNINGS:
COST (71/29) announces earnings this week, along with THO (89/66), PEP (32/21), and LEN (26/35).
Pictured here is a directionally neutral iron condor camped out around the 14 delta strikes for the shorties paying 1.04 (.52 at 50 max) with break evens at 253.96/316.04, which are slightly wide of one standard deviation. The correspondent short strangle...
Natural Gas has caught many off guard with the recent rise off August's 2.040 bottom. We decided it would be more useful this time to look on the long term (1W) patterns for clues on the dominant trend.
An interesting pattern that stands out is on the 1W log chart. This shows NG trading within a long term Channel Down since late 2009 with clear Lower Highs and...
Really it is depends on Saudi production the weather forcast, but this pattern is not rare, don't care about the name even they called alternate monkey, profit on 61.8 Fibo. From CD wave.
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