for the next few weeks I believe we will have at least a bounce from this area volume is increasing in the last month we are below the 2020 lows and all this price action can be a false breakout from that area(only a guess) remember: I am treating it as a long term trade
Natty gas has been pressed down for a while, the falling wedge on the 4 hour shows pretty good support at the 6.30 level. Could see some upside the next few weeks.
United States Natural Gas Fund LP forms bullish "Continuation Wedge" chart pattern "Continuation Wedge (Bullish)" chart pattern formed on United States Natural Gas Fund LP (UNG:NYSE). This bullish signal indicates that the stock price may rise from the close of $6.90 to the range of $9.20 - $9.70. The pattern formed over 18 days which is roughly the period of...
it the right trend to long from this prices in UNG no leverage or stop lose just i will add more if it go more down
- 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
UNG (US Natural Gas ETF) has formed a double-bottom price pattern on the Daily chart. The Price has found temporary support above $8.21. Support Price Targets are: $8.21, $8.16, $7.72, $6.11. Resistance Price Targets are: $8.99, $9.93, $10.97, $11.97. UNG etf does not always correlate & follow technical analysis charts. Be aware of global fundamental news...
- 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...
I know this would be a crazy move and I have no clue what would cause it, but the chart says that this is a possibility. As you can see, the chart has formed a H&S pattern and is breaking down. If you take the length of the pattern and extend it down past the breakdown, you get a price target of sub $2. Maybe this is a move that plays out like oil did in 2020?
- UNG NG BOIL have retraced over 50% fib of the A to B move from the bottom, that's a clear sign that we will likely get an equilibrium base on how significant these swings are. - NG has a tendency to break a resistance and have no follow through vice versa breaking a support and have no follow through so im looking for a equilibrium tightening up price action...
UNG appears it could bottom near chart support possibly on 03/13/23. Both RSI and MACD have bullish divergences. Elliott impulsive wave up followed by a Zigzag correction. Mark
The trade represents good risk to reward.. (Wider stop at $6 can be used) We have had positive weekly close above the previous week. Entry : $8.50 SL : $7.00 Targets: $11.00 / $16.00
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...
Wow. Swing trade was on point, still looking for possible uptrend from here toward the 200 day moving average. What's the community think?
I think this is what is going to happen. Not only due to wyckoff distribution reasons, but also because some major bears have started to capitulate on natural gas.
Nat Gas got another daily positive close. This chart is looking ultra bullish and we may get to witness one of the greatest short squeezes.
Week started off great, movement to the upside as predicted. Moving toward the 200 day moving average is another positive note here.
UNG has been on a downfall, but looks to be reaching a stopping point for a reversal. What does the community think?
The Natural Gas ETF (UNG) has broken above the daily declining trendline. The bottom this week had a significant RSI bullish divergence Seasonal patterns for Natural Gas are bullish from mid - February to June. UNG ended the 02/24/23 session near 8.50. In the next few weeks it could reach 12.00 near Fibonacci and chart resistance. Mark