If this is in fact the short term bottom, the 1h chart price should break above the 1h support around the "1D support" level. However if the price continues below "1D support" a further drop may be likely.
Happy New Year all - time to make a shitload of money this year!!
ok - post first - NG rose today for the first time in weeks, so NG is settling around the 4 mark. Will it go lower?? Possibly, probably.
Warm weather is in sight with no let up in sight for the next 2 weeks minimum.
I'm not doing anything until the storage report tomorrow - lord knows price...
NG1! broke down out of the raising wedge (yellow) and I expect further downside. It will prolly not be in straight line, pullbacks along the way expected. Actually now we are sitting at the support zone 7.78 - 7.55, so bounce up or sideways before next leg down is possible. Target being the support zone 6.46-5.95 and potentially the lime uptrendline.
Also there...
Natural gas in the US is collapsing. In part this has to do with LNG exports to the rest of the world being halted due to a fire to one of the export terminals. However in my honest opinion, there is more to it. It probably has to do more with the deflationary forces taking over, as high interest rates, money supply shrinking and inflation being too high, have...
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Wassup guys?! After my NG short call (two months ago) and reaching it's target I think the drop may not be over yet. I can imagine price is going to test support cluster created by major uptrendline (lime), horizontal support...
I have to admit GAS could continue to dump OR ?. There seems to be a curious possible setup here exactly at the .618 FIB (4.5) .... NOT for the faint hearted.
This is based solely on wave pattern and experience there is absolutely NO fundamental analysis involved, so do your own due dill
Hey everyone,
Fundamental analysis.
Waiting for market.
Waiting for winter, when customers starts buying nature and price get to the down.
Typical supply and demand.
Very easy trade to me and for everyone.
Bye.
Natural Gas has been pulling back for last few months. It has hit double bottom today at 5.325 and I would expect some technical bounce of that level. Overall trend for NG is bearish, I expect it to next level major support 4.92 and 4.5 in next few weeks or months.
So NG is tanking hard...question of course is how low will it tank?
I will be watching for a bottom and then put in a Buy Order seeing that it's still winter, price 'should' go up some at least, but you never know. We have had stranger winters where price just keeps coming down.
I'm not sure if we are looking at a time where it will drop all the way back to the...
This is a follow up from the Oct.23rd post (if interested see link below). We did get a good bonce up after that post but pride than dropped back to what appears to be be a support resistance level. We now have a positive reversal in the daily RSI followed by a bullish divergence in the daily RSI. This combination frequently leads to a rise. It correct I would...
Henry Hub Natural Gas
So we have a possible double bottom forming on natural gas. If price fell 8c more on the last low we would have a bullish divergence now. Throw in a spinning top reversal on the 2nd bottom, STO primed for an increase, weak volume and stronger RSI all things point to the sky.
RSI: Relative Strength is 37 on the second low versus 25 on the...
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 5.500, which will be followed by moving up to resistance level 6.300.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 5.500, which will be followed by reaching support level 3.932.
It is important to remember that trading in any financial market carries inherent risks, and it is essential to develop a sound trading strategy and properly manage your risk in order to minimize potential losses.
Hello,Traders!
Here is another dimension
To the NG bullish forecast
That I posted last week.
In there we established
That the price is about to retest
The long-term rising support line
From where the rebound is almost
Inevitable. Now, the price has indeed
Almost reached that support and today
We are taking a closer look at the gas chart.
As you can see the...
✅NATGAS is retesting a key support level
So I think that GAS will make a rebound
And go up to retest the supply level above
LONG🚀
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