Natural Gas is contained within the neckline of the right shoulder of the 1W Head and Shoulders pattern that peaked last November (2018). The RSI on 1D is now approaching the 53.3800 level which has rejected any upside possibilities in the previous 3 times. We are expecting a similar development and target 2.400.
** If you like our free content follow our...
As you can see on the chart, natural gas has hit a support level and i'm sure a lot of buyers are rolling into the market now. You may buy now but make allowances for the fact that support could get broken.
Please note that this chart is an opinion based chart only. Please trade at your own risk
Twas not a flat, so WTF! Many things pos IMO, many things say up for now, or a bit more down than up... 2 of an impulse, B on ZZ, X of a combo... that sweet wick on wick action in the a/1 is throwing me a bit...anyway some bull div. A bit up pos..or dumparoo $ugaz $dgaz $ung
Last update Ugaz bounced off support all the way back near resistance...maybe again? It bounced to .9 of the previous swing, so im leaning flat and now it is on the 4 of the C potentially. Then Bang, Zoom, to the Moon!...potentially. The main channel has been broken and played off of, which can happen in a 4. If we break into the wave 1 territory at the orthodox...
Natural Gas is so far respecting the 2.530 support on 1W and since last month's bottom has been developing a bullish sequence on 1D (STOCHRSI = 75.364, ADX = 37.193, B/BP = 0.0580). Since it is still largely neutral (RSI = 52.420, Highs/Lows = 0.0000) there will be another chance to buy, for those who missed it, with a pull back within 2.750 - 2.700. Our target is...
This is the first time I have charted Nat Gas on Tradingview so we are starting with a blank canvas.
We completed a large 5 wave sequence in the first quarter of 2016 and have since bounced in what has been a corrective ABC. This has clearly completed and we are looking at a very aggressive rejection.
Support at 2.3 / 2.5 is approaching but the sustained...
DANIEL BRUNO, CMT
I WAS VERY ACTIVE IN NATURAL GAS IN 2005 AND 2006, AS I RECALL IT IS VERY CYCLICAL
CURRENTLY IN A DOWNTREND, BELOW 1/1 AND RED CLOUD, COULD BE STARTING AN UPTREND BUT NO WAY TO KNOW FOR SURE
HUGE INCREASE IN VOLUME, NOT SEEN ON THIS CHART
SEE MY OIL CHART BELOW