Have been long last 2 weeks. Assessing daily. 50 D MA is next, at a minimum needs to flatten
Natural Gas is breaking above a descending triangle resistance line on the weekly chart, and together with the bottoming RSI, Stochastics and MACD, appears to have a decent chance at targeting downchannel resistance around 3.5 in the next few months. The 2.5 level reached last week is not only a round psychologically important key figure but also acted as a pivot...
The support zone is clear - Too clear So this time, i wont act on it. I am watching and if the next few months bring the front contract at ridiculous levels below 2.00, 1.00 maybe who knows, then i ll buy the front contract. Nothing here for me. If there was something it would be a buy and i dont feel it. So neutral.
Another point of view for Natgas (NGH15). Natgas is not gaining momentum to the upside and it seems that the bears forces are still in control. A trade below 3.780 would confirm this scenario. Targeting 2.328. Great risk - reward.
Natgas (NGH15) reached support at 2.800 the first two weeks of Jan2015 and is currently setting up for a long trade towards the median lines intersection at 3.600-3.700 (expected on the 05Feb2015). At 3.60 the bear trend could resume.
Blue #'s are gas in storage. Red #'s are the weekly change in storage.
Natgas (NGH15) reached support at 2.800 the first two weeks of Jan2015 and is currently setting up for a long trade towards the median lines intersection at 3.600-3.700 (expected on the 28Jan2015). At 3.60 the bear trend will probably resume.
Recent bullish divergence on RSI. Would like to see price stay above 2.85ish.
Natgas (NGH15) reached support at 2.800 the first two weeks of Jan2015 and is currently setting up for a long trade towards the median lines intersection at 3.600 (expected on the 29Jan2015). At 3.60 the bear trend will probably resume.
Trend lines for the long term picture No bottoming sign yet Safe trading ladies and gents! @BLawrenceM
There is support at 2.80 but i think the big picture is seeking lower.... There would be a strategic buy at 1.70 if it falls further.
For the past few months, the one silver lining to the energy complex - with crude oil plummeting to levels not seen since 2009 - was nat gas, which soared to the mid-$4s in early November on expectations of a brutal polar vortex for the second year in a row sending heating demand surging. Well, so far the "harsh" weather, which was blamed for the epic collapse in...
It looks like the large institutions got the liquidity they were looking for as they rejected the break and reversed back into value. Prices quickly gaped up as other traders saw the rejection and were willing to pay up as they know that prices are going to head higher. The target is the breakout into fair value and if prices hold this level, prices are going...