Seems like NGAS bounced hard forming a bullish channel with a "stairs" pattern.
It's currently on the channel resistance so it sould go down by now.
We can also see a gap that should be filled at 2.260.
I recommend to sell on breakout or just buy the deep with a target to 2.260 gap.
Regards and happy trading!
Friends,
As the prior DAILY chart reached its lowly targets, price fell to Predictive/Forecasting Model's "Watch Line", an indicator that daily frame action had ceded control to higher timeframe. Based on same Model's formula, we are thus turning to the 4th degree higher frame: Weekly.
QUICK ANALYSIS:
- Predictive/Forecasting Model:
In essence, the...
1- Winter Season Started will effect the demand.
2- Inventories are falling below 5 Yr Average.
3- About to go up if Mirror Image Completes in the Weekly Chart.
4- RSI Making Higher Lows on Every Downfall.
5- Major Reversal pattern on the Bottom.
6- Dollar Index Showing a Downside...
Can trade Buy Side with Stops below Previous Lows for Next Year.
Natural Gas could be working on putting in the right shoulder of a inverse h&s.
Above 2.71 would give added confidence to a likely retest of the noted neckline. The timing of this retest could occur within the next 2-3 weeks. Confirmation of this inverse h&s would have an implied target of ~3.7 with a completion likely this fall.
Below recent lows at 2.6 and...
NGAS Natural Gas Pitchfork Break Down
Natural Gas price has broken down out of its pitchfork channel from the peak of $3.1
Charting further test of support levels at 2.534, 2.471 and 2.437
I'm currently long and will be looking to reduce the average cost of my position by short selling.
UPDATE
FULL target hit. Looking back for a long now.
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NGAS met heavey resistance we have a bearish divergence in RSI and MACD, looks like it is going to retrace some, before further upmovement.
The blue line looks like a level to respect in my opinion, because of the double bottom it made there and from there it went steeply up.
After a potential exhaustion gap yesterday, prices have recovered which increases the probability that yesterday was indeed an exhaustion gap. The price chart is forming a potential falling wedge and cup and handle failure pattern with an RSI divergence.
I suggest taking a trade:
Enter with 1/3 position now. Add 1/3 if prices close above 2.62 and add the last...
go long NG, but if we have a daily close below the base of the triangle, we are out...
Sentiment is extremely negative, traders are long at historical levels, and seasonality is helping... BUT we only want to be long above 2.70 aprox...
Friends,
Natural gas ($NGAS) is coming to a technical floor per Elliott Wave count as well as predictive/forecasting model.
WAVE ANALYSIS:
- ELLIOTT WAVE:
Price action in this 8-hour chart illustrates a recent down-swing consistent with an Bearish Elliott Wave impulse, whose internal construction suggests a near completion, as price appears to negotiate a...
Winter months are here. The East Coast of the US is experiencing low temperature and snow. Demand for Natural Gas usually increases in the winter months.
The price of Natural Gas has been climbing since late October and will probably keep rising throughout the winter months.
I remain bullish NGAS to 5.10 which is the 61.8% Fib extension from the up move and it...
Hi Traders,
As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18.
Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher.
TARGETS
likely: 5.10-5.13
possibly: 5.37-5.38
ELLIOTT WAVES
This new uptrend is nothing more than "wave 3" of the recently started...
Hi Traders,
As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18.
Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher.
TARGETS
likely: 5.10-5.13
possibly: 5.37-5.38
ELLIOTT WAVES
This new uptrend is nothing more than "wave 3" of the recently started...
Hi Traders,
Natural Gas (now at 3800) started a major uptrend as 2 days ago as predicted. It's now to retrace a bit to 3760-43 before resuming the uptrend to 3924-50. That should mark the top of "sub-minuette wave 1".
As you can see by the 2-hours chart above we're still plenty of time to get on board for a long position.
ELLIOTT WAVES
The letter "C" at the...
Seasonal Play ..o durr, right ? it gets cold people need cheap heating with Natgas at 3.65 its a bargain right now. IMO , I almost feel like todays 19.10 and lower was the perfect entry and I chickened out,
options are cheap right now,
Nov 14 22.00 calls are trading at .16 just yesterday they were at .21 so $5 cheaper,
DEC 14 25 calls are trading at .24...
Using Wheel on other application to analysis date, turning point might happen around Jul to Nov, enter in the yellow spot, and aim for 2015 Feb @ 4.61. ideal enter at 3.5, exit at 4.5 - 4.6.
