Fundamentally, there's not much out there to cause a steep jump in prices. I think this is mostly a technical move - the market was simply under priced.
Warmer weather forecasts for next week could increase demand or gas by forcing homeowners and businesses to use more air conditioning, but the South was expected to remain on the cool side, partly blunting the...
I think here we are on the last wave down to 3.400. A regular swing has formed at the median line, between the inside 50% sliding parallels and finally touching the 20MA. A small trend-line can even be drawn joining the higher low points of the swing. I consider this as a bearish swing that could project the price at the 3.400 demand area. A that point the bulls...
This trade has happened with the main entry. This idea is to project the possible fall in Natural Gas due to the fib retracement that guides an extension to a confluence in price with fib extension and price action level. 3.350 area will be an interesting target for short and a possible reversal for the instrument.
For those not with on the main entry, there...
As you can see, we have an up side impulse here in the natural gas chart, with a 5th wave developing right now, and if you look carefully, because the movements in the wave (1) we can assume that the wave is extending its 3rd wave as well.
The last down bar should then be (at least part of) the 4th wave of wave (3) and therefore afther a new high, should come a...
Natgas has turned into downtrend. I expect few more days of tight consolidation along the up-sloping 1/1 Gann Line and below the 20EMA followed by a sell off with target objective around 3.60.
Interesting price action on Friday with intraday low touching the lower parallel line and double cross of the 20MA. Bullish signal for me. Gas seems also moving in the opposite direction of Crude Oil. Reward/Risk 1.5 not bad, I'm considering this long on Monday and short Crude on Tuesday. Target around 4.53.
NATGAS reached resistance level and reacted with a blow-off day bar which means that the bears are in control now or bulls have started taking some profits. Price is poised to move towards the 1/1 Gann.
