Got into this trade yesterday, but wanted to share. Starting on Sept 6/7th TPO graph was spending more time moving higher, PoC reflects that & a TON of SP's on the downside. Consolidated yesterday just under lower band of vwap (quarterly) & with today's move it is now sitting just above vwap (q) and seems to be using it as support. Will monitor to close. Using...
United States Natural Gas Fund(UNG) is testing the neckline of a complex inverted head and shoulders pattern with an open and close above the neckline on a gap up in price today. Based on the orange line measurement taken from the lowest point of the head to the neckline we get $1.89 which can be applied to the opening price today above the neckline and gives...
This has been pretty crowded with people trying to sink their life savings into the bottom here. No clear picture how long we are going to range here in the accumulation zone. Small positions spot trades can be added when we hit the bottom channel, but the real play will be when it gets above this zone. That would be the time go all in for a long term CALL
United States Natural Gas Fund appears to be in the process of heading into the Back Up(BU) phase of a Wyckoff Accumulation pattern after levelling off in the $7 area after seeing a ~75% decline from the August '22 high near $35. There is also an ascending triangle pattern forming in phases C and D which tend to result in higher prices as UNG puts in a series of...
Strong Accumulation in Gas Market. Gas price shall be increase middle term. Gas is a intermediate step between fossil combustibles and hydrogen. Many countries have gas as main energy source.
Natural Gas and other commodities offer alternatives to main show which is the stock market indices. The spx sp500 is currently offering very low volatility premiums because its been trending higher in smooth way, and put sellers have crushed premium there. UNG etf offers an alternative potential opportunity for me since premium is high enough and its already...
- Natural Gas Weekly uptrend confirmed for the very first time since Aug 2022 - also confirmed a daily uptrend - Structure of the chart is looking better for the bulls compare to the last couple months.
180 days under the 80 day MA. Over 2:1 containment ratio. Also nearly zero slope on the MA. There next week at latest. Ready for an upside explosion? My OTM calls are on deck!
UNG the ETF that tracks natural gas futures has continued on a significant uptrend since June 1st The 2H chart suggests to be that the trend will continue this upcoming week. UNG is now above the POC line of the long multi-session volume profile. UNG has had support from the VWAP line representing two standard deviations below the mean. In recent days,...
On the 4 hour chart- UNG had a head and shoulder pattern in May from which it descended in a gradual fashion from May 25 to June 2nd and then reversed upward. The reversal occurred at two standard deviations below the mean anchored VWAP and so deep in the oversold area. Price has crossed over the higher VWAP line and so is in the band between the mean...
Volumetric accumulation on UNG, strong bullish bias on energy sector and notable accumulation on natural gas occurring on similar timeframes. Bullish divergence on multiple oscillators. Price has migrated and stabilized past the long term down-trend. This could be a sleeper for awhile, but primary harmonic profit target is around 17 bucks; the mid-point of the...
As shown on the 4H chart, UNG has been trending down albeit with a triple top in April and a head and shoulders in early May. It is presently at the bottom of the long term volume profile and two standard deviations below the running mean anchored VWAP. This is deep undervalued territory. On the MACD indicator, the K and D lines intersecting while under the...
- UNG rejected from falling wedge upper resistance now dropping a little more then what bulls want to see - need to confirm a hourly uptrend as the first step for bulls - want to see it hold it hold 6.65 otherwise going to 6.3
UNG as shown on the 15-minute chart had an untrend for a week culminated by the very steep finish to the uptrend into resistance followed by a very rapid bounce down and retracement. A standard 50% Fibonacci retracement is now complete. UNG appears to be bounding off the POC line of the volume profile which coincides with the 0.5 Fib level. UNG tracks the...
AMEX:UNG still in a uptrend, #naturalgas it needs to close above the horizontal line and then needs a bullish consolidate before it can move higher.
AMEX:UNG bottoming pattern monthly chart, needs to close above Dec.1 2020 low on a monthly basis to start a new uptrend.
Natural gas has been in a strong downtrend for the past year but finally sellers look exhausted and prices have stabilized. New lows failed to stick in the beginning of May which has led to a reversal higher. Sets up for a decent risk-reward trade to the upside, but stops and time-frame is important.
UNG 1D wolfe wave bullish 5/11 UNG 1D wolfe wave bullish 5/11 UNG 1D wolfe wave bullish 5/11 UNG 1D wolfe wave bullish 5/11