I've labelled what I see with Natty. I think we see a short leg down in the next couple of weeks. The daily seems to be printing a flag right now. We need more time for confirmation however. After that, we probably see a really powerful impulse up that could last 6-12 months.
still struggling should b touching near 2.65
A simple chart showing the downtrend of NatGas since the peak of Dec, which is the norm as winter days started to decline. However the weather becoming bearish so quickly has resulted in a steeper decline. I believe we will decline until early March.
After the trendline breach, I expect a pullback to the breakout. Then a further decline to the centerline and from there potentially back north. Hunt mode on. P!
April Natural gas is creating a head and shoulders pattern. Have been watching this for several days now. Seen too many of these H&Ds to go backwards, but it is a potential sell opportunity. Scenario 1 Falls slightly and then moves higher with a fall later on Scenario 2 Falls now to possible 2.780 which would make it size of head from neckline.
Good entry point here. TP1: 3.58 TP2: 3.75 TP3: 3.9 SL 3.38
Strong weekly candle filled the larger gap below from Nov 28 as well took back the 200 MA 3.30 (the caveat is there is still a smaller one Nov 21 2.852 - 2.891 but I expect it will wait for shoulder season if it fills since we've moved up for now) Tested 20MA with a convincing push up = bias remains BULL 50MA crossed above 100MA 20MA closing in on 200MA Up...
NATGASUSD failed to make a lower low and is testing resistance at 3.3 I'm already bought earlier this day at 3.21 with very tight stop-los but will add extra positions if it can brake resistance and move above the 10 Daily EMA. I will update later on.
easy down TL makes for a great short. Tight stop at 3.43, target 3.24.
Short NATGAS based on warmer weather projections (builds in inventory), and bear divergence in RSI.
Volume rising, but price remains within bounds. Lower highs and higher lows. Rumor of new cold weather blast hitting the North West, and Mid West Coast could push prices higher. Weekly chart still shows good opportunity for Long positions imo. Other's thoughts?