NG is in a declining channel. Today it sold off hard on big volume. It's likely oversold for the day. Time to begin accumulating some.
Many indicators are showing that NG1! is going down looking for new support because none of them seems to work for now
needs to claim trendline and cross $3.103 Near term consolidation as expected at/around around $3
Bullish trend intact but bearish engulfing candle at close today..Consolidation as expected near $3.
If you don't trade futures, you can use UGAZ. I personally use it. A good entry would be on a pullback to the 2.921 area
Nice base formation. $3.025 resistance if broken should lead to $3.333 by next week
likely not before 40 week breach - getting there slowly, nt consolidation imminent
May consolidate after the spike this am. $NG_F $UNG
Based on recent history, break out moves start when 40 wk MA gets breached. Up to sideways chops until then
and then $3.143 followed by 40 WMA. Oversold, short term cnsolidation again
Does anyone see a bearish set up on Natural gas?
has probably begun. Overbought, but bullish rally imminent so it seems
Looking bullish, support $2.579. Seasonally strong time.
Interesting outside week developed in NG. Found support at weekly lower BB. Target 2.95 and further 3.2, especially when downtrend line 1 is taken out.