Nat gas has broken critical support. Losing the $2 whole number is a big psychological breakdown. Since Nat gas is in a clear down trend making new 52 week lows, you must be mindful about being overleveraged in this asset.
Dear traders, Id like to share this idea in order to take long positions, basically the price is in 2$ quite sicological level, actually it seems that is looking for a support. 1,8- 2$ is is a good price range to look for buying opportunities. Additionally RSI is clearly oversold and prices already went down quite aggressive. best,
Outlook for Natural Gas on 4h chart. There have been no changes since the last update. sub-wave 5 of wave C may already be completed. If the assumption of this scenario is correct, Upper-degree wave (c) will be started. I think Sub-waves of wave (c) will form a five-wave Impulse. Last time my idea. ■Feb 1, 2024. Short-term analysis. ■Jan 30, 2024. Short-term analysis.
NatGas has finally reached what appears to be a local bottom. As shown on the chart, single abc zigzags can form a triangle, but abc can also start an abc flat. Considering the depth of the retracement, this unlikely to mark the end of the correction. We'll be monitoring for more cues. If the price rises shaping abc zigzag, the triangle will become more likely....
The chart's key message is that we are likely to be in a large block of corrective waves until about April. It is possible that this will be wave (B) or even (2), followed by sharp impulse wave (C) or (3). However, it is equally feasible that we will continue to see-saw movements, forming a contracting diagonal (C) in the black scenario. An alternative bearish...
Price got Bullish Divergence with both RSI and MACD, TP first target is #Ichimoku Tenkan Line (Red) at 2.1X, 2nd target at Kijun Line (Blue) at 2.5X, 3rd target at POC volume profile at 2.6x (Red dash).
Summer AC consumption and exports will drive price up as global warming hits harder and harder and LNG goes online globally
Outlook for Natural Gas on 12h chart. There have been no changes since the last update. I think we are on sub-wave 5 of wave C. If the assumption of this scenario is correct, Sub-wave 5 will be completed soon, and Upper-degree wave (c) will be started. Last time my idea. ■Jan 30, 2024. Short-term analysis.
Natural Gas Prices Recover from 3.5-year Lows As the chart shows, the price of XNG fell below 2.040 on January 31 for the first time since August 2020. This was facilitated by: → seasonal trend, because towards the end of winter the price of natural gas tends to fall; → weather data. Temperatures could remain above average and snowfall amounts will decrease...
Natty has reached the lows of Feb - 23 and has retested with some bullish intent. There's also Bullish Divergence on various timeframes inc. Daily, 4hr, 2hr, 1hr as well as a Monthly on if it holds at these levels for a couple of months, from which we could see a major move up. Taking the 0.618 fib levels as TP which also retest a previous support level....
Nat gas closed positively today in a weak market. The importance of this close is it was a close above yesterdays high. Showing some potential near term momentum . If Nat Gas can closes above the resistance trendline we could see a retrace to $2.50. Looking for a weekly bottoming tail on Nat gas to confirm a local bottom.
Outlook for Natural Gas on 1D chart. I think we are on sub-wave (b) of wave B. Sub-wave (b) may be pulled back to sub-wave (a)'s Fibo level 78.6 to 90% or it may already be completed too. If the assumption of this scenario is correct, Sub-wave(b) will be completed soon, and Sub-wave (c) will be started. Sub-waves of wave (c) will form a five-wave Impulse or Diagonal.
Natural Gas making support at 1-30-24 1:21 AM. Other candles for today are 1-30-24 5:47 AM 1-30-24 10:13 AM 1-30-24 2:39 PM (Pivotal) 1-30-24 7:05 PM 1-30-24 11:31 PM 1-31-24 3:57 AM Levels: Sell Below and levels 2.05 1.40 0.87 0.46 0.19 Buy above and levels 2.23 2.42 2.83 3.73 4.76 5.91 (Long term) Disclaimer: I am not a Registered Analyst with any of the...
The price of NATGAS remains surprisingly weak despite the ongoing geopolitical conflicts. Considering the upcoming start of spring, the market is expected to reach new lows. In order to open a short position, we want the market to continue to rise in order to achieve an optimal risk/reward ratio (RRR). The trading idea presented offers an RRR of around 3:1.
Contrarian scenario where this actually deserves or gets a little bit more of a push above, unless we are in just another correction formation. For the long setup to hold and to be considered, a bounce from a curve needs to happen with a precise candlestick setup right at one of the curves, for example where the green circle is, bouncing from the white curve and...
Daily chart, Nat Gas is testing the Support Line S, and it should rebound to trade inside the orange channel for some time before breakout. Then, the target will be 3.45 Stabilizing above 3.45 for 2 days, the target will be 4.30 Be careful - watch the Support line S and consider a suitable stop loss level.
Price currently in a possible accumulation phase. It seems like we have a common low on this instrument. Do the Bulls have the strength to break the accumulation phase and beat the down sloping trendline? we will look at lower timeframes to take a microscopic view and read momentum using pure price action. Change in polarity is when support change to resistance...
Trying this buy. Good risk/reward. Probable trend reversal. I go in staggered on the 2 fibonacci levels, with same stack, trying to optimize entry. Do your own research. No financial advice. Be cautious.