NGAS Trading is on the channel, it's logical now to buy and get a profit near 3,350
We have highlighted our Ideal Entry, Ideal Stop Loss, Ideal Targets (1-3) and Ideal Exit. We have highlighted a counter trend position for those brave souls out there. We would love to hear your feedback. Follow us on Trading View & Twitter twitter.com .
Natural Gas working with fibonacci levels. Trend still up
Simply put, good risk reward. Could see a wave 5.
All technical indicators are oversold with signs of reversal on Daily and Weekly time frames. Additionally, we touched th 200d MA and bounced off of it. Be careful though, this might be a short lived bull run as we might fail to break 3.1 and thus create opportunity for a leg down. Thus I will set my first target at 3.1 and wait to see if there are signs of weakness.
Three touches on each side of the wedge, perfectly touched the uptrend line, as well as a storage report coming out after market close tomorrow. Due to falling wedge and bull price action since last march i am leaning long-side here, but do your own due diligence and watch the movement after the report. If price takes off upwards i would expect quite the move here.
Based on Daily and Weekly technical analysis as well as fundamental I think there is a possible trade to the long side for NGAS in the upcoming weeks. I will post a more in-depth analysis when I see a window to enter the trade. For now I am keeping some cash to be ready.
Since the first of November, NGAS has had a nice run up but now appears to be pulling back for a correction. As part of my learning Renko Charts, I've created three views of NGAS: Daily TF: source/close | style/traditional | blksz/.050 2Hr TF: source/close | style/traditional | blksz/.025 5Min TF: source/close | style/traditional | blksz/.010 With the price...
NG gonna hit 3.2 due to the cold weather in east coast US. Prior, it tested the lower point of 3.08 and bounced back.
The uptrend of NGAS in the past week was a completely irrational move fueled by good news for oil. Other than that, inventories were slighly below forecasts and weather neutral. Furthemore, this rally is starting to experience exchaustion with huge spreads between bid and ask which leads to gaps--mostly to the downside. Thus, I believe that panic selling will...
Friday I started selling my position in NGAS. Whilst I do expect further movement up, I think that there may be a possibility for some profit in the short side. That's because the upper BB did not seem to widen when the price reached it. This is a very common sign of NGAS reversing. Furthermore, the STOCH RSI look like not much upside is available. The MACD is...