A little updates on Natural Gas for those who are following NG1! and UNG closely
Now we are seeing tons of Bearish pressure on Nat Gas on Weekly, Daily and Hourly TF.
Chart shows a possible Bearish Head and Shoulder pattern for NG1!
Also we are seeing tons of Bearish Divergence on RSI and PPO
Looking at the monthly chart, one can see quite clearly a few things :
1. Bearish trend ended when it breaks out on July 2021
2. It has a long consolidation phase from May 2010 to Jun 2021 - a total of 11 years. Would you be holding for so long ? haha
I am bullish on this commodity and will be adding some soon.
Please note that commodity trading is volatile...
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...
I think we should see Natural Gas Tank from here
In US NatGas supply has been declining exponentially
Also technically NatGas is forming rising wedge which is the Bearish Setup
Natural Gas (NG1!) has been one of the most profitable trading assets of the year offering great returns. On a long-term scale though (1W time-frame on this chart) it has starting to form a peak pattern, which we have seen previously in the past 20 years.
I've plotted the Sine Waves on the chart to more efficiently illustrate NG's long-term cycles. Currently it...
Like 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...
This morning with my students we discussed a great buying opportunity on Natural Gas.
The market dropped to key daily structure support.
On that, the price formed a tiny double bottom formation on 1H time frame.
Taking into consideration that the market is trading in a sharp bullish trend,
it can be a very nice confirmation to buy the...
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,...
I think oil and natural gas are pretty stretched technically and even though there is a real shortage in certain goods out there, the market will eventually take down the commodity with it. It's tough that they will crash markets massively, so there's a flight to dollars to defeat the ruble going on with a fight on inflation , real or imagined. I don't think it...
I think oil and natural gas are pretty stretched technically and even though there is a real shortage in certain goods out there, the market will eventually take down the commodity with it. It's tough that they will crash markets massively, so there's a flight to dollars to defeat the ruble going on with a fight on inflation, real or imagined. I don't think it...
As I predicted, Natural Gas perfectly bounced from a key level.
Now we see an inverted head and shoulders formation with a confirmed neckline breakout on 4H.
I believe that the price can reach 8.0 level soon.
Be ready
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Type: Bullish Bounce
Resistance: 6.607
Pivot: 6.260
Support: 6.013
Preferred case: Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 6.260 in line with 61.8% Fibonacci projection and -27.2% Fibonacci expansion towards our 1st resistance level of 6.607 which is in line with 38.2% Fibonacci...
Expecting bullish price action on this pair but simply on a fundamental reason, price tapped on 7.0$ institional figure taking out some retail stops below this price area and for now we are going for the ATH - ALL TIME HIGH.
What do you think ? Comment below..
Update for Natural Gas.
This week the market set a new higher high higher close on a daily violating a previous high.
Analyzing a monthly chart we may see a breakout attempt of 6.07 - 6.70 structure resistance cluster.
Monthly candle close above that zone will confirm a breakout and may lead to a strong bullish rally.
Next resistance on focus will be 9.0...
