The last time Natural Gas traded at 150% away from it's 200 Day Moving average was September 24, 2001. 28 trading days later, futures had rallied 80%.
NYMEX:NG1!
NG- As every trader knows, this is the most complicated commodity to trade, very aggressive with huge potential to win/lose.
On weekly chart, NG is now in multi year POC touching multi year trend line and RSI pointing 28.
Historically, each time when weekly RSI was at this level we have seen huge correction of more than 100%.
Trade safe.
So NG price gapped down from the Big Boys on the weekend, putting the price of NG to almost a 2 year low. Not good for people like me that wanna go LONG and make some money.
Anyway, hold onto your shorts and keep waiting for the low...someone told me maybe 2.5 - looks like maybe they were correct :-)
Anyway, I'm still waiting (isn't that a song?) - doesn't...
NYMEX_MINI:QG1!
Natural gas trying to reverse
yet a retest of 2.7 - 2.6
seems to be waiting.
a bounce there will confirm the uptrend and fill towards the upper channels towards 3
We will reach the trough of NatGas very soon - my expectation is end of February 2023 - and from there, we could get a rapid recovery into the 4... or even 5.... level, which will reward very well considering the short timeframe during which this will happen. Technical indicators are looking like they want to balance out, which is indicating a bottom of price...
Hello,Traders!
NATGAS is trading in a
Downtrend and keeps falling
After the breakout of the
Key level just as I predicted
So the next goal is the
Strong support below at:
2.33$ and the key resistance
Is at: 3.445$
Like, comment and subscribe to boost your trading!
See other ideas below too!
Following seven weeks of relentless selling, Natural Gas has entered extreme oversold conditions on Weekly Charts and either from current lows or a bit lower $2.60 and $2.35, an imminent rebound is very likely to test $3.00 and $3.275 resistance zone.
If buying momentum strengthens above initial resistance zone of $3.00 and $3.275 our next upside Target cum...
There is a bullish activity in ETF option markets linked to Futures of GAS, ProShares Ultra Bloomberg Natural Gas (BOIL) and United States Natural Gas Fund, LP (UNG), source: @MC_OptionTrades.
Inventories are decreasing (source: EIA)
Trend follows bearish but we shall pay attention
Bullish pattern on the 1-5 min but careful for taking longs because the market still is in a downtrend looking weak with weak earnings especially top-line
My previous call on natural gas made Sept. 19 has come to fruition, achieving all three targets, and in a shorter than expected period of time:
Natural Gas / NG - It's Officially a Bear. Now, Hold My Beer
The question I've asked myself for the last few days is simply: Now that the June lows have been taken out, is it time for a reversal?
And frankly, I...
Hello,Traders!
NATGAS is trading in a
Downtrend and keeps falling
After the breakout of the
Key level just as I predicted
So the next goal is the
Strong support below at:
2.33$ and the key resistance
Is at: 3.445$
Like, comment and subscribe to boost your trading!
See other ideas below too!
Bearish pressure is expected to persist in the coming days or week due to increased natural gas production following a June explosion that shut down a Texas LNG facility. The facility is expected to take at least two weeks to become operational again, but bullish pressure may return once it does as well as if winter conditions return in late January or early...
As I mentioned in my post, 2 posts ago, I expect price to settle around 3. We had a little spike up in price but then it came right back down and now is under 3.2
So I will be watching closely to get in at 3.2, preferably lower if price goes lower. Every 100 points I will move my Buy Order lower to keep in step with the price lowering.
Currently I'm in for a...
1.24.23 Bobby, listen to this video at least twice. Replicate the chart. Spend some time on the thinking associated with this market.... natural Gas. It's not easy finding this kind of analysis. Your risk Is that you spend a few hours... and then you can decide that the thinking behind it doesn't resonate for you . But listen to it first and replicate the...
1.23.23 I made a mistake near the end of the previous video.. Apparently Did not move on today's open. Until it gets higher. This is A little peculiar to be honest. The video shows the Gap that has not been Tested... so there is a good chance that the market will move higher without breaking below the green support line. This is no big deal, however the...
