Weather, Trends, Flag pole formation point to more downside in November. Going to start a long position at $3.55, then add at $3.46, $3.55 and at 3.21 if it gets there. This is my first time trading Natural gas so wish me luck
Downtrend started in June 2014 followed by range trade from August to October 2014. Twice failed breakout to the upside: the 2nd one on the 01 Oct 2014 more significant proving that the trend is bear (below the 1x1 Gann line). This morning (16 Oct 2014), after the usual weekly inventory report, we had a final move below 3.80 support level.
Entering short on weekly flag breakout. Next support 3.150 in one month time (16Nov2014). Will post they daily chasrt soon. Funds adding more shorts (see COT data).
After a pause in August and September 2014, the bear trend seems resuming at this point. Failed breaskout to the upside today (1st Oct 14). The bear 1/1 Gann line has proven resitance. Market is poised to move lower towards 3.500.
For the first time since I've added NG to my watchlist two months back, its weekly and daily charts are pointing bullishly. NG has been testing a 2yr plus uptrend support over the last few months, and is flirting just above it currently ahead of tomorrow's inventory figures. Weekly RSI, Stochastics and MACD are all turning up. For those who've never traded NG,...
Using Wheel on other application to analysis date, turning point might happen around Jul to Nov, enter in the yellow spot, and aim for 2015 Feb @ 4.61. ideal enter at 3.5, exit at 4.5 - 4.6.
Just a simple chart to highlight gas price behaviour over the past four months. It looks like it will move higher but I need to find an entry point in the daily charts.
Natural Gas price shows potential bullish pattern, which is an inverted head and shoulders' formation on the weekly chart, will be completed once the price reaches 6.430 area and breach it.
Positive factors coming from the EMA50, stochastic, and the bullish trend line that carries the trading since 2012, all these factors will assist to push the price for bullish...
We have a bottle neck in nat gas supply. Until the Keystone Pipeline and other nat gas pipelines are built, this bottleneck will remain a problem.
Pattern-
Elliott Wave -- Inverted Ending Triangle
Not too many chartist even consider an inverted ending triangle when counting EW and when looking for bullish motives. I've see many successful ending triangles...
Natural Gas futures charts looks to be setting itself up for a bigger push higher, with the current correction showing signs of confirmation..... (if the retest of the neckline is successful or if price drops to its target)
Using line charts its easy to see the H&S pattern. Also compared to RSI, there is a clear divergence that was formed. Both the H&S and...
Natural gas broke above the neckline of it's bullish reversed Head & Shoulders pattern. Potential is equal to the height of the formation, giving a $7.30 target.
Natgas has reached the upper parallel line on 13 Dec 2013 (Friday). Today 16 Dec 2013 has opened with a gap down. If the market continues lower below today low tomorrow this could be the sign of a change in trend. First target around 3.8.
Natgas weekly chart is showing the early stages of a possible double top. The price could drop to 2$/mmbtu wthin 6months. Specific entry on the daily chart will follow.
