It looks to me we had started the bottoming process in UGAZ .
Price broke below 13$ with no follow through and on August 5 we broke below 11.69$ and started to recover on the next day .
The weekly chart of NatGAS last week printed a hammer which often signs the end of the downtrend. This week we have the follow and the weekly...
I still don't think that NG bottoms until the end of December. Just basing it off the cycles analysis idea I have going...but NG is tricky. This is what I think may be going on right now on a short term cycle. If this count is correct, then the wave 1 is longer than the wave 3 which of course would mean that wave 5 must be smaller than 3. Soooo, I extended the...
NG seems to be working a bear flag, I'm still looking for a tradeable bottom, until then I'll be staying on the sidelines until market finds a bottom and show (SOS) sign of strength. 1.9 seems likely at this point, if thats the case NG needs to bottom this month as bullish seasonality starts early Sep
I was wrong on my last idea, NG went on and dropped lower. Trend remains down until we see a close above 2.33 then 2.48. Commercials are heavy long at levels not seen since 2016. Seasonality is bullish from now to Nov-Dec. we just need to see a sustainable rally to bolster the idea of a bottom for the year.
**If you're interested in joining a group of like-minded...
The strong rally today suggests that NG low of the year might be in, bullish divergence in play, biggest hurdle would be a close above last swing high at 2.488
* seasonally NG bottoms in the last week of July, so looks good timing wise
** Just an idea NOT a forecast
Natural gas has *potentially* breached through a massive resistance level that marks the falling wedge pattern's upper limit. I say potentially because we need more follow through first as confirmation because the price might sink back within the pattern and keep grinding lower until the real break occurs. On the daily charts, we definitely have the positive...
I haven't posted since forever, had a lack of motivation but guess whos back!
DGAZ is continuing with the same pattern than it was having on last decline push. 3 tops and immediately huge decline. Currently we're on 2 tops but the third time could be different. This could be last short potential for DGAZ for a little while as we don't really know which...
1. Natural gaz is very weather dependent and seasonal. In the last 20 years, natural gaz went up 14 out of 20 times between Aug and Nov. The exceptions were (2000, 2005,2008, 2010, 2011 and 2015).
2. In the last 20 years, natural gaz was above $2.25 98% (eye ball) of the time. As you can see on the chart, $2.25 is a clear floor.
3. Adjusted for inflation for 20...
read like a book, could be a 1,A with an Ending Diag, too tired to measure, so ill just say falling wedge, looks like futures already broke up a bit, pos up for the 2,B, then new lows possible, maybe. watching
I’m actually looking for a tradable low on NG, but charts suggest more near term weakness, a possible scenario would be up to 2.35 then resume the sell off to possibly 2.05-2.1
** Just an idea NOT a forecast
Natural Gas has been consolidating after huge sell off today. UGAZ and Natural Gas has potential to bounce off the 1 hour 180 day EMA for a 7% return. Wait for confirmation of higher lows and higher highs before entering trade. Observe UGAZ during market open for confirmation of upward push.