The cold weather in US had done little to support a price rise of the Natural Gas, while the consumption was lower than predicted.
The price of the gas had broken its support at $5.3 and might be heading further down, testing prices of 4.25 in the next couple of days. In the opposite scenario the price might try to reach levels of $6.07
RSI and MACD both are...
Looks like somebody overindulged on caffeine yesterday since NatGas jumped quite high to complete wave a in pink. We're currently expecting the course to drop back below the resistance line at $7.221 to finish off wave b in pink, before starting another climb above this mark. As soon as NatGas has crossed $7.221, it should rise further to complete wave (B) in...
GAS Long Setup
🔵 Entry Level: $5.673
🟢 Take Profit: $6.094
⛔ Stop Loss: $5.441
Reasons:
- So far the price is respecting the ascending channel;
- I believe the price may bounce off the lower trendline in the area between $5.535 and $5.670.
Game Plan: If the price goes through the lower trendline (yellow), which at the moment acts as a support level, then I...
Gas Long Setup (refer to the setup marked with "2")
🔵 Entry: $2.704
🟢 TP & RR: $2.898 (3.4)
⛔ Stop Loss: $2.647
Trade Reasons:
✔️ Support level
✔️ Close to the 0.618 Fib retracement
✔️ Diagonal trend line within ascending channel
📝 A few things to note here:
1. Seeing how price action develops, you may close the trade setup suggested yesterday (marked as 1)....
Gas Long Setup
🔵 Entry: $2.81
🟢 TP & RR: $3.04 (1.71)
⛔ Stop Loss: $2.67
Trade Reasons:
✔️ Reaching lower trend line
✔️ Reaching support level
✔️ Market Flow indicator printing small divergences in the oversold area
📝 Not a great RRR, but the SL is positioned at a very safe level below the diagonal trendline and the recent lowest low. If price bounces off that...
Gas Climbing Up - Long Position
Entry: $2.715
TP & RR: $2.877 (3)
Stop Loss: $2.661
REASONS FOR THE TRADE
So far price action has formed a diagonal trend line, so I believe if it respects that level the price should bounce up and head towards a double top. There's also the possibility that we don't get filled and the price starts trending up without us,...
Gas Upper Trendline - Short Trade
Entry: $2.845
TP & RR: $2.693 (2.08)
Stop Loss: $2.918
REASONS FOR THE TRADE
After the breakout from the descending channel, we see the price sliding up an inclined trend line. However, the price is now reaching major resistance and I believe there will be a small pullback before potential continuation to the 1.618 Fib...
Midterm forecast:
2.200 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 2.200 is broken.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would...
Midterm forecast:
2.200 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 2.200 is broken.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would...
Collapsing oil prices due to travel bans fueled by the coronavirus slashed the global outlook for energy demand.
Natural gas futures plunged 7% to their lowest since 1995.
PIVOT INDICATOR HOLDING THE TREND SHORT
