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...
These are the fair value and top/bottom edges to trade off on the daily chart. There is a clear rejection off the lows and it looks like price could move higher into liquidity above 5 as winter approaches.
Natgas (NGF2015) didn't manage to move above 4.60 resistance. Double failed attempt (11nov14 & 20Nov14). A trade below 4.337 is bearish. 1st Target objective 4.044 (median line) by Friday the 28Nov. 2nd Target objective 3.733 (median line) by the 10Dec2014.
Weather, Trends, Flag pole formation point to more downside in November. Going to start a long position at $3.55, then add at $3.46, $3.55 and at 3.21 if it gets there. This is my first time trading Natural gas so wish me luck
Downtrend started in June 2014 followed by range trade from August to October 2014. Twice failed breakout to the upside: the 2nd one on the 01 Oct 2014 more significant proving that the trend is bear (below the 1x1 Gann line). This morning (16 Oct 2014), after the usual weekly inventory report, we had a final move below 3.80 support level.
Entering short on weekly flag breakout. Next support 3.150 in one month time (16Nov2014). Will post they daily chasrt soon. Funds adding more shorts (see COT data).
Trade cancelled - this pattern is not convincing enough!
After a pause in August and September 2014, the bear trend seems resuming at this point. Failed breaskout to the upside today (1st Oct 14). The bear 1/1 Gann line has proven resitance. Market is poised to move lower towards 3.500.
For the first time since I've added NG to my watchlist two months back, its weekly and daily charts are pointing bullishly. NG has been testing a 2yr plus uptrend support over the last few months, and is flirting just above it currently ahead of tomorrow's inventory figures. Weekly RSI, Stochastics and MACD are all turning up. For those who've never traded NG,...
Using Wheel on other application to analysis date, turning point might happen around Jul to Nov, enter in the yellow spot, and aim for 2015 Feb @ 4.61. ideal enter at 3.5, exit at 4.5 - 4.6.
In a range 4.30-4.85 since Feb14. Seasonally strong in this period.
Just a simple chart to highlight gas price behaviour over the past four months. It looks like it will move higher but I need to find an entry point in the daily charts.
Natural Gas price shows potential bullish pattern, which is an inverted head and shoulders' formation on the weekly chart, will be completed once the price reaches 6.430 area and breach it. Positive factors coming from the EMA50, stochastic, and the bullish trend line that carries the trading since 2012, all these factors will assist to push the price for bullish...