Everything can be seen or read on the CHART.
1. Winter Demand UP
2. If Dollar goes Down Price(NatGas) UP
3. Positive Technical Analysis
1.+2.+3. = ====>> to rocket UP; explode(?)
NatGas appears to be starting a wave c of an a-b-c move.
This pattern is the favored pattern so long as price remains above 3.72.
The August 12, 2014 move lower was a 3 wave move where red wave 'c' was nearly equal to red wave 'a'. This suggests the whole pattern is likely to be retraced meaning prices visit 4.03.
Additionally, the equal wave pattern appears...
Natural gas is currently on the long term trendline and holding after massive price appreciations, whipshaw, consolidation, and sell off. Nat gass is down around a dollar in the past month, around 22%.
Technicals:
RSI: Super oversold on daily
Open and close below weekly bollinger band, hyper extended.
Fundamentals:
Dollar per unit of energy nat gas still remains...
To me it seems that the spot natural gas should provide more valid historic s/d levels than the futures. This chart raises the question, though potentially in an ambiguous manner since both the spot and futures have levels at this area. The level held extremely well, suggesting that overlapping levels may hold a secret mystical power.
Friends,
A very quick note ...
Here is one that turned around quite fast and reinforced a bearish market reversal confirmation. Bearish targets are as follows:
TG-1 = 4.052 - 26 MAR 2014, moderate probability
and
TG-Lo = 3.481, low probability
More on this chart as price action unravels.
Cheers,
David Alcindor
Predictive Analysis and Forecasting
If...
Friends,
Yesterday, we warned of a probable rally into three potential targets, graded by probability. Today, WSJ mentions: "Who isn't sick of winter? Natural-gas traders: on.wsj.com We believe that some unwinding has come due ever since we hit all targets - Here is a playable review of the trade using TradingView's replay feature:
Within a few hours, all...
Natural gas respected our analysis & moved to targets as per last report. However natural gas move to higher level after that but many important hurdles kept as away for time being.
Now natural gas is trading around $4.319 & as we can see on charts the continue trading above $4.140 is indicating that the rally isn't complete & we may witness further bullishness...
Natural Gas shows a strong breakout from a triangle pattern on the daily chart. Watch for a long entry on a pullback if/when the price attempts to retest the breakout level (bullish gap). Note that breakaway gaps in most cases don't get filled.
