After a sharp drop in August, Natural Gas futures is now sitting close to the long-term uptrend support which has marked key reversal points since June 2020. Our question is whether prices have fallen too fast and too soon? We question “too furious” when we look at the RSI which currently points to oversold levels. Hitting a low close to 24, the last time...
Higher Timeframe: -Price inside HTF weekly demand -Look for buys Lower Timeframe: -4hr timeframe overextended with 6x DBD in a row. -Wait for aggressive downward trend line break + strong quality zone to be created -looking to either buy the demand is price pulls back or use as my highertimeframe and then look for new lowertimeframe confirmation.
Tickers: NG1!, UNG Short term view: We are finding weak support at $4.90 level on NG, or $17.50 on UNG. We are in overall BEAR BIAS MARKET (even with the short term uptrend in the larger equities and bond market) so we will retain the retracement from the SELLERS perspective. We find a strong case to take profit at $5.20 (NG1!) or $18.15 (UNG) TP1: $5.20...
we have 2 ways if close above the resistance 7.23 will go heigher if we get rejection in that area we will have a big move into down and we look for short
Previous Resistances of $5.559 acting as support for this current D leg.. I initially spotted the ABCD pattern in orange, then I looked for the Bullish Cypher on D leg to kick off. The AD Will confirm
Head and Should Target 5.325 also coincides with July lows
Type: Bearish Momentum Resistance: 600.5 Pivot: 516.5 Support: 327.8 Preferred Case: On H4, as the price moving below ichimoku cloud and descending channel, we have a bearish bias that the price may drop from the pivot at 516.5. which is in line with the overlap resistance to the 1st support at 327.8, where the 127.2% fibonacci extension is. Alternative...
✅NATGAS was trading along the rising support But now we are seeing a bearish breakout So I am bearish biased and I think That the price will fall down To retest the demand level below SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
Hello,Traders! NATURAL GAS is going down But a horizontal support level Is ahead so after the retest A bullish rebound is likely To happen with the retest Of the target level above Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
NATGAS has a lot of big fundamental factors currently, with Russia controlling I believe 75% of the worlds NATGAS reserves we are seeing the tampering of supply alter the market price alot. Coming into the winter months we could see the price rise considerably as everyone tries to store as much gas as possible we could see supply side issues. Ideally TWAP...
Deutsche Bank reported that in a particularly critical phase is the supply-demand dynamics regarding natural gas towards the winter season, which the behavior of households will be decisive in the coming months, as their consumption represents a large percentage of total consumption. A supply failure is likely to be avoided at least as the scenarios confirm that a...
I expect NG to rally off the lower trend line of the pennant and go to at least the $8.47 liquidity zone. This is not purely a technical play as it is the season to expect increases in gas consumption/demand. Technically all the signs of a rally are present. The Weis waves for supply are decreasing and demand is increasing. The accumulation/distribution line...
Last week, I shared with you a head and shoulders pattern formation that I spotted on Natural Gas on a daily time frame. The price has successfully closed below its neckline. The price is currently heading towards 6.175. Bias remains very bearish. If you missed the entry, consider an occasional retest of a broken neckline. ❤️If you have any questions,...
Hello,Traders! NATGAS fell sharply from the highs But a rising support is nearby So a bullish correction is ahead With the target being the resistance above Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
✅NATGAS is trading along the rising support And as the pair will soon retest it I am expecting the price to go up To retest the supply levels above LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Natural Gas behave erratically and its extremely chaotic. It likes to give you the assurance that you are in control while sneaking and stealing your money away. It shows a head and shoulder patter, an even double top pattern. All the technical markings are showing one thing, NG! is ready to reverse it's price action. But when it's clear, too clear should you...
Bullish trend, high probability to make strong pullback NYMEX:NG1!
US natural gas prices have formed a head and shoulders top pattern, which may signal a weakening of the current major bullish trend and a subsequent reversal into a bearish one. The left shoulder coincided with the relative highs at the end of July at $9.30/MMbtu, a level that was then followed by a pullback to $7.53 (August 8) prior to the beginning of a new...