Natgas should continue bearish trend, bull pressure is temporary. I will start selling from 2,25-2,4 ( SL above 2,5 and TP 1,6).
Our priority scenario in NG is a pullback of the price in wave 4 to $3.5. A slight decline before the rise is possible, but not below $1.423. Resistance at Friday's high of 2.24 should (ideally) remain unchanged until wave B is considered complete.
Our priority scenario in NG is a pullback of the price in wave 4 to 3.5 $ after which, most likely, NG will go to the final descending wave 5 and the price can come to 1.5 $, but not below 1.423 $
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- UNG NG NATGAS 6h 12 EMA is my short term guide - weekly bear flag potentially confirming - 52 week low support bulls need to defend - 1h equilibrium pattern will break Monday
On the daily chart, BOIL price has never been lower and the relative volume has never been higher in the past five years. Being mindful, this is leveraged it falls faster than an the unleveraged counterpart of the same commodity ( UNG INL) However moves in the opposite directions are also amplified. Horizontal red lines are drawn in consideration of...
- NG UNG is on a downtrend in every time frame, bears are in full control. - Bulls would hope we hold the 52 week low - need an hourly trend change back to the bulls for we to potentially get a 4h and daily bounce going and shape up an Equilibrium pattern. - short term intra-day 15m 12 EMA is our guide for full bear control. - I definitely wouldn't be...
WTI Crude Futures Rebound, Brent Crude Futures Rise On Wednesday, Brent crude futures rose above $78 per barrel, rebounding from three-month lows as OPEC raised its forecast for Chinese oil demand growth in 2023 due to the country's exit from the zero-Covid policy. However, the group left its outlook for global demand unchanged, citing potential downside risks for...
Last weeks NG video i mentioned that this is likely a climax bottom and we are heading higher with potential inverse H&S pattern, it ended up playing out in the hourly time frame and bulls were a lot stronger than i expected. - Looking at the 4h time frame 12 EMA as full bull control support if we don't lose it then we wont be getting 4h and daily consolidation...
NG is way under it's 33yr POC of $2.57 and near the Value Area Low VAL. I'm stepping into it slowly, as it could dip quite a bit more, maybe as low as $1.50 helped by DXY running up. However, long term it should be safe to enter around $2. First target is the VAH ~ $4.
Despite the current downward pressure on the price of natural gas, it is expected to rebound towards the support level which has now turned into a resistance level, but may subsequently resume its downward trend. This could potentially create an opportunity for quick profits
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...
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NG is extremely manipulated and oversold. All eyes on NG upside and seems like the turning point will be around $1.89
My previous call on natural gas made Sept. 19 has come to fruition, achieving all three targets, and in a shorter than expected period of time: Natural Gas / NG - It's Officially a Bear. Now, Hold My Beer The question I've asked myself for the last few days is simply: Now that the June lows have been taken out, is it time for a reversal? And frankly, I...
Red arrow has been modified in white. 3D GZ long coming at $3. If we bottom there, PT will be $15.85. Please like and share if you appreciate this market update. We are algorithmic traders and certified Elliotticians. We publish Elliott Wave and algo technical analysis on a daily basis for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and...
NG - Natural Gas - W - - Movement Prediction and forecast idea in medium term. level to Buy zone 4.00 - 3.70 . Stop if weekly close under 3.40 Target 6.50 - 7.00