Its time for reality to kick back in
and gas prices to go back to new highs
followed by the unsolved underlying fundamentals
here we see rejection of higher tf demand
this year ive been on a roll with my gas swing calls
made this call earlier as an update but just enjoys pressing play so
SENNA SEASON
US natural gas prices have formed a head and shoulders top pattern, which may signal a weakening of the current major bullish trend and a subsequent reversal into a bearish one.
The left shoulder coincided with the relative highs at the end of July at $9.30/MMbtu, a level that was then followed by a pullback to $7.53 (August 8) prior to the beginning of a new...
Natural Gas formed a huge head and shoulders pattern on a daily time frame.
7.33 - 7.88 is its wide horizontal neckline.
If the price breaks and closes below the neckline, it will be a very strong bearish signal.
I believe that then the market can easily drop to 6.17 level.
Remember, that for now, a neckline represents a strong demand area.
Consider shorting...
On the daily chart of Natural Gas, we see the formation of the H&S pattern, and the price is now at the neckline. Now we need a deeper drop below and a retest of the neckline for a continuation of the bearish trend to the lower support line, the $5.00-$5.50 zone.
Here we have a *tentative* head and shoulder pattern, with the price hovering around the neckline. A head and shoulder pattern generally creates a triangle pattern between the head and right shoulder, and as we know with a triangle is that we can anticipate breakouts or breakdowns, triangles patterns are not only continuation patterns. Always anticipate all...
PEPPERSTONE:NATGAS
Hello folks!!!,
This is my analysis brought to you after deeply analyzing the NAT GAS from a technical, trend and fundamental perspective:
Pivot point : 8.54
Stop loss : 8.80
Take profit : 7.47
Entry Price : 8.27
Risk/Reward Ratio : 1 : 1.48
If this post was useful to you, do not forget to like and comment.❤️
Trade Safely,
Best...
Price Broke the neckline and currently testing support at 7.5 area.
If the price managed broke the support and established below we may see further bearish price action.
The price of natural gas today formed a new September low at the $7.40 level. The support zone at the $7.80 level was broken. On Thursday, the price was at the $9.20 level and has been in a bearish trend since then. We need further negative consolidation and a break below the $7.40 level to continue the bearish option. Potential lower targets are $7.20 and the...
Natural gas daily chart is showing a Head-n-Shoulders pattern which is a bearish formation. Will this formation cause the price of natural gas revert to its mean at 6.5 or ascending trendline? A close below 7.84 likely to trigger sellers action...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
Natgas still at correction mode and we’ve to wait abit more to catch bullish rally I lined up yellow horizontal lines where the bullish mode will activate
NATURALGAS in a textbook Wyckoff distribution here.
Notice the inverted "adam & eve" structures first the blow off (omg) top.
Then the yonic domed top showing the weakening trend becoming corrective then failing to the downside.
This is also reflected in the RSI divergence.
Added the more exotic "creek" which is a limp corrective rally into LPSY that signals...
