Nat Gas broke the trendline , retested it , and now its back above its 50 SMA and ready to at least hit the 2.3 which is below the 200 SMA .
This is a very high probability trade , and I think its gonna happen fast .
Daily squeeze , moxie positive both on daily and the hourly , nat gas trade is on .
Winter contracts for Natural Gas are already trading near the pivotal $3.00 level.
If Winter this year turns out to be average prices will likely sell off towards $2.50 (the 200 Day EMA).
However, if production continues to fall and Winter is cold enough, prices can break above $3.00 and complete the parabolic move that is forming.
If the latter happens, I see...
Natural gas at the 4 hour view.
It turns out that natural gas has been in a downward channel since 2018. Furthermore, in the last 3 months, gas has been in a trading box.
You know what this means? Gas has become predictable. It may look choppy at first, but it's trading in a general range between 1.58 to 1.93. There were spikes above and below that range....
Bulls are still hanging on with a chance of changing the weekly trend. Price does look exhausted and a seasonal cycle low in August is very possible.
Green line is based on brief consolidation and continuation. Price target is $2.15
Orange candles is the June price action.
Red is a steady grind lower over the next 3-4 weeks.
Both the orange and red have price...
Main items we can see on the chart:
a) The price is on a weekly support zone and since MARCH 2020 has been ranging between 2USD and 1.50USD
b) If we analyze the range we can see that the price is moving towards the higher level of it, after the breakout of the zig-zag pattern (corrective structure)
c) The breakout of the range will give us reliable...
I have a love hate relationship with this stock as it is volatile as you can see from the chart.
You can be in the money today and the next two days, it could dampen your mood by heading south once more. Then , when you give up buying, it offers you an element of surprise.
Anyway, the 4H chart shows a possible breakout around 1.80 level or it could revisit the...
On June 3rd I posted my strategy for trading Natural Gas this coming Winter (linked below). As prices slowly drift lower, it looks like traders are beginning to accumulate long positions.
I've opened a long position on the December(Z) E-mini contract and might add 1 or 2 more over the next couple months with the sell target up around $3.30ish. Will see how it...
Traders are done selling for now and will be looking to test the $2 level next in anticipation of August heating demand. A bullish pennant is forming and should break out after price clears above the 50 day EMA.
Moving forward, buying the dip is the play as we head towards Winter.
Opened a long position on the September(U) contract @ $1.795
Intraday Commodity Future Buy NATURALGAS AUG @140.3-140.7 SL 136.70 TGT 146.80
TK cross over
MACD cross over
Cloud break out
Above VWAP so signals looks bullish in short term
Natural Gas at the 4 hour view.
Gas is currently consolidating right now into a wedge. The end of this wedge is early next week. If I were to guess, gas is trying to push up.
Gas currently has an inverse head and shoulders pattern going on. A very slow one, but it's telling me that gas may be getting ready for a spike up. We are in the middle of summer after...
7.26.20 Natural Gas. Includes an example of what an example of what an expanding market can look like...and how it can adversely affect breakout buyers and sellers.
