As you can see, a massive head and shoulder is forming.If it confirms by breaking the neckline, we could see some heavy bearish action going. What do you guys think?
I expect some more downside to come. UNG gap filled @ 18.66
Let's wait for price to retrace a bit and then enter long on a bullish candle stick formation. Alternatively, a buy stop can be placed above the highs after retracement.
On the daily chart the histogram is going up
Overall Weekly Outlook for Natural Gas. I am expecting a bullish move during the week starting Dec 15th - Dec 19th 2014. Entry Signal will be shown on the hourly chart To follow me, add me on twitter @fxtigerfx
Yesterday NGAS tested the bottom of the symmetric triangle it has been trading in over the past weeks, the support held up and the market is moving towards the upper resistance of the triangle. Looking at the STOCH and MACD, clear bullish patterns are emerging, further supported by yesterdays US NGAS stock data, which showed a higher than expected decrease of...
The NGAS has entered a symmetric triangle after several weeks of decline, the market has approached the lower limit of the triangle, which could indicate a BUY if limit holds up. This is further supported by a -51B US NGAS stock change for this week (vs. -45B predicted) as well as a bullish MACD pattern emerging. Look for upwards break of the triangle which could...
Natural gas (10.12.2014) respected our last article & fall to the mention target area. As always traders becoming more bearish due to last week fall in natural gas & we feel its time to have a sharp look at future prospect. On fundamental side, the average inventory withdrawal staying on higher side since november 2014 due to harsh winter in major part of US....
Natural gas (03.12.2014) made high round $4.6 on unexpected cold front in November month while upcoming mild weather forecast forced trader to book profit on higher levels. On fundamental side, mild weather in US expected to continue for coming 2 weeks & will put more pressure on prices. On other hand current inventory level of natural gas is 3432 bcf which is...
Waiting to get long if this hidden divergence materializes
Winter months are here. The East Coast of the US is experiencing low temperature and snow. Demand for Natural Gas usually increases in the winter months. The price of Natural Gas has been climbing since late October and will probably keep rising throughout the winter months. I remain bullish NGAS to 5.10 which is the 61.8% Fib extension from the up move and it...
Before storms, one more time it drops to find support and then 7.30 will be seen further winter season. Hint: Cancel the trade above 4.50 two weekly close. Good luck!
Keep an eagle eye around 4.12 level. Confirm with low close doji and heikin ashi.