Natural gas bounced from a low of $1.95/MMBTU, where almost all producers lose money.
Since natural gas and crude oil are near or below breakeven levels, producers are reducing their drilling rate - likely lowering production levels given the lack of capacity.
The negative shift in weather, falling rig count, and potential export boost from Freeport may push...
NATGAS weekly data is suggesting firm price foundation at current levels and an upside continuation is inevitable.
SPOTTED at 2.4 (continuation from 2.0 levels)
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Related news:
Nat-Gas Prices Rebound on Outlook for Cold U.S. Temps
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- AMEX:NG AMEX:UNG AMEX:BOIL : if i were to add today, I laid out a detailed game plan in the video of how to trade it with SL and target.
- 4 hour currently in neutral trend
- potentially shaping up daily higher low and trend change to uptrend need to break above prior high
- still trading within the equilibrium range likely breaking in early May
NG correction is slowly concluding -- with bears showing some weakness on weekly data, after touching the order block support at 1.9 level.
A reversal is on queue now.
Expect some signficant moves on the upside soon -- a revisit to 7.0 before year ends is possible.
SEEDED L at 2.09
TAYOR.
- AMEX:NG Finally got a 4 hour uptrend need more follow through tomorrow to confirm
- likely heading to $2.5 if 4 hour uptrend confirm follow through tomorrow
- tradeable ticker AMEX:UNG and AMEX:BOIL still use the NG chart if you are trading natural gas.
After experiencing a price rejection at the 2.054 level and a double bottom formation, the natural gas market appears to be bottoming out, signalling an end to its 2-year low.
The bullish sentiment of natural gas is expected to gain momentum in coming weeks!
#NaturalGas
#NGAS
N.B!
- XAUUSD price might not follow drawn lines . Actual price movement may likely...
- AMEX:NG AMEX:UNG AMEX:BOIL needs that 4 hours trend change otherwise even the big moves will essentially just fade
- still a potential weekly bear flag
- but still holding bottom wedge support and also double bottom on daily.
NG, is undergoing significant accumulation at the current levels. It revisited strong order block / support at 1.9 level and it touched this multiple times. It retested it and bounce back-- only to return to it multiple times. Let's see if it can finally muster strength to reverse from this level.
Spotted at 2.10
TAYOR.
- AMEX:NG AMEX:UNG AMEX:BOIL cant stress enough we need to change trends, even if it is a very big move it will just fade if no trends are changed
- need to change the 4h and daily trend to the bulls
- likely tightening up in a equilibrium into May, still holding the teal support line.
- NG UNG full bear control, need to see a hourly trend change to the bull for anything to happen.
- potential Equilibrium shape up on daily time frame if bulls can hold above $2
- daily 12 EMA resistance
Daily Chart suggest shifting price.
NG is not for the faint of heart due to its extreme volatility so practice safety still -- but with right timing and setup, it can be rewarding.
This is the second attempt (reversal) on the daily, and the probability of a short squeeze is high.
Spotted at 2.056
SL at 1.9.
GOODLUCK NATTIES.
- UNG NG NATGAS 6h 12 EMA is my short term guide
- weekly bear flag potentially confirming
- 52 week low support bulls need to defend
- 1h equilibrium pattern will break Monday
- NG UNG is on a downtrend in every time frame, bears are in full control.
- Bulls would hope we hold the 52 week low
- need an hourly trend change back to the bulls for we to potentially get a 4h and daily bounce going and shape up an Equilibrium pattern.
- short term intra-day 15m 12 EMA is our guide for full bear control.
- I definitely wouldn't be...
I know this would be a crazy move and I have no clue what would cause it, but the chart says that this is a possibility.
As you can see, the chart has formed a H&S pattern and is breaking down. If you take the length of the pattern and extend it down past the breakdown, you get a price target of sub $2. Maybe this is a move that plays out like oil did in 2020?
- UNG NG BOIL have retraced over 50% fib of the A to B move from the bottom, that's a clear sign that we will likely get an equilibrium base on how significant these swings are.
- NG has a tendency to break a resistance and have no follow through vice versa breaking a support and have no follow through so im looking for a equilibrium tightening up price action...
