I was laying on my couch thinking about NG and wondering what in the hell is going on with it. Then it dawned on me. After years of a bear market for natural gas, We are in a corrective ABC pattern. DUH, right. So then I was wondering about the last month of this uptrend and how complicated it was and thought, what if we had an ending diagnol for the A wave...
Lets see how this plays out ...but....I think that grey area that I had previously talked about was squashed today. I am hoping we close above the first trend line. A close above the next one is super bullish. I think a little flag consolidation just below the next trend line would be a great sign.
Trading between the descending trend lines, it appears low risk to buy NATGAS or UGAZ here at the lower trend line. Look for higher prices going forward.
NGAS in the descending channel Targets in the chart Best of luck
Here is the Natural Gas 4 hour chart. I still think we are in a grey area and some type of confirmation should be waited upon. We could very well be in a zig zag corrective pattern. We will know in the next couple days. If it drops again into that red zone then I think I will buy UGAZ again. On a side note....if by chance UGAZ dropped below the red zone then...
Natural gas is simply killing me. I left up the possible cycles just in case for some strange reason, NG dumps into mid January. But it sure does not look like its going to dump. It appears that we have started that winter rally. If this is the real winter rally, then a brief pullback would be a great opportunity to get back in this thing. NG left a large...
NATGAS has has both a strong local and general double bottom and is looking to retest 3.0-3.1 and higher before it sees 2.5 again. Strong gap up over weekend was very predictable as is evidenced from my idea last week. With both strong fundamentals (bullish report) and strong technicals (respected double bottoms) shorts would be wise to wait and watch for a...
Its been a bearish season for ngas but seems like bulls want to return to the party as winter is coming I will be looking for the wave mentioned ih the chart All comments are welcome :) Best of luck
SO we did fill the gap. I am thinking that we will touch that red line which corresponds to a couple bottoms last year. The question is whether or not we finally start the winter rally or simply set up to fill that last gap. Today a subscription that I get, had an update for XLR (the general energy ETF). Their chart showed the general energy fund dropping...
NATGASUSD Double top testing green fib chamber rejected and dropping to bottom of yellow fib chamber. While 2.5 or below is possible it looks as though a double bottom may form at around 2.583 or so matching up with the price in February. Looking for confirmation of a bounce before riding AMEX:UGAZ all the way back up to an almost guaranteed 3.0 or so. Be...
NATGASUSD might be near completion of the Butterfly Advanced Formation The chart above is self-explanatory. Below is also my view on how it might reflect on UGAZ.
I expect the final drop to $2.60 area and the winter rally to $3.20. I opened an $UGAZ position at $6.12 with Limit Buy Orders at $5.90. Play safe
Yep. The title says it all. I have found evidence to support what I believe is future upward price movement over the next 2 months. After many many hours of exhaustive research, I can say with 100% certainty, backed up by years and years of historical data that......IT GETS COLD IN THE WINTER! Just some light humor. So I have two price targets for this...
See link below. The way it looks to me. If correct we should see a reversal pattern beginning soon. Process your way. Feedback welcome. Have a great weekend.
There was a great action on ngas this week I think we are in the hands on bulls again but after some consolidation I made a time and price fib and its really interesting to see the future price action I hope you like it :) All feedback is welcome :) Best of luck
I am not sure if we can fill both gaps on Ugaz but it is possible. I am pretty sure that we will fill the first one. Once we get to the bottom of that first gap, I am planning on looking at NG futures to see if it also filled its gap. If not then I might wait until the bottom gap is filled. After that UGAZ would be a huge buy from my wintery perspective.
Ngas broke an important support today Possible scenario on the chart Best of luck