NYMEX:NG1! AMEX:BOIL AMEX:UNG
Triple Divergence on the RSI, MACD, several weeks without crossing the 10 day moving average. I'm not going to suggest we go straight to $8 but I don't see why a cat thrown off the One World Trade Center can't bounce a couple feet.
This idea is an analysis of this season's widowmaker spread breakdown done in hindsight for future reference. See idea linked below for last season's widowmaker analysis. Idea explained on the chart.
Snapshot of chart before publishing distortion:
... for a 2.70 credit.
Comments: A basic bet that we don't see 1.00 natural gas by April or, alternatively, that we hit 50% of max before then. 2.70 credit on buying power of 9.75 ish; 27.7% ROC at max; 13.8% at 50% max as a function of buying power effect.
NG has sustained an ugly sell off. Not unusual in this market. This is an opportunity for short and longer term gains I believe.
One needs to be prudent in selecting entry points in this market to manage risk. I believe we are now at that point.
I will be looking to get long next week. If you prefer an etf to use UNG chart below.
Ideally if A = C entry would be...
NYMEX:NG1! AMEX:BOIL AMEX:UNG TSX:HNU NYSE:FCX
The trend line is from someone else's post. the Fib Channel has a convenient crossing of paths that fits my broken clock Long strategy. E I A Report Monday will provide some clarity...
Natural Gas recently hit the critical support at 3.4 and I see strong technical bounce to 4.3 level, hitting down sloping resistance line (red) which also coincides with Fib .618 level. Overall long term sentiment is still bearish, if the NG doesn't break above the 4.5 in upward momentum, we might see it crash towards 2.33 before mid of 2023.
Let me thoughts...
Natural Gas has dropped more than 43% since start of 2023, it's heavily oversold and hitting a major support zone (2.45 - 2.20 levels) , highlighted in blue box. In my previous post, I had a target of 2.33 as per Fib measured levels. I strongly believe we have seen bottom in NG short term, might go lower some more to test the support zone and build a base....
Nat Gas, the widow maker - is at the 100 month ma (green line), which was a resistance level during it's consolidation and should be a support here. How much of a bounce it can get is hard to say but my guess is at least to 6 dollars sometime this year. This is a monthly chart.
We're coming in to a zone near the $3 mark where we belive it would be prudent to start accumulating long positions in natural gas. Using Elliott Wave anaylsis in conjuction with fundamental analysis we're pretty certain there's a huge upside to natural gas. We're unsure as to whether this will be a wave 3 or a wave C to the upside, but ultimately that doesn't...
As an ex commodities guy, I remember many times when the stock market sold off and how commodity futures behaved prior and concurrently. Often times there has been tops or turns in commodities before there a reversal in stocks. Can this be one of those, or are commodities wrong and getting the economy wrong?
I am not saying this will happen, in fact I am personally bullish at the moment based on a number of factors. (For more on why I am bullish check out my channel for my nat gas trade)
I thought it was worth mentioning that BTC price action over the past few years is lining up very similarly to the price action of nat gas over the past year. Based on this vague...
So NG price gapped down from the Big Boys on the weekend, putting the price of NG to almost a 2 year low. Not good for people like me that wanna go LONG and make some money.
Anyway, hold onto your shorts and keep waiting for the low...someone told me maybe 2.5 - looks like maybe they were correct :-)
Anyway, I'm still waiting (isn't that a song?) - doesn't...
Hello,Traders!
NATGAS is trading in a
Downtrend and keeps falling
After the breakout of the
Key level just as I predicted
So the next goal is the
Strong support below at:
2.33$ and the key resistance
Is at: 3.445$
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See other ideas below too!
This is not the first time we look into Natural Gas (NG1!) and its long-term patterns. We have coined its Multi-year Cycles Theory in the past and it is time to extend on it a little on the 1W time-frame.
Typically investors ask us for 1D analysis such as the following we published 2 months ago (November 24 2022) and helped us identify the conditions that would...
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...
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