tradexchart

tradexchart

Natural Gas prices rebounded after dropping earlier in the week from $2.5 to $2.25 on warm weather. Prices rebounded on tight balances, oversold technical conditions, and roll into February 2021 contract. Support is expected to hold, as LNG flows are above 11 Bcf/d and balances are tight, with last draw at -152 Bcf. Technical Analysis: 4 Hr chart shows oversold...

tradexchart

Crude Oil chart is consolidating awaiting OPEC's decision to boost production by 500,000 B/d in February, with a total of 2 Billion B/d increase by April of 2021. Prices may dip to $45 level. Economic recovery from COVID-19 is in the cards with expectations of higher demand coming in the spring and into H2 of 2021. Currently, Crude Oil prices are holding grounds,...

tradexchart

Natural Gas futures dropped disproportionately to fundamentals on lower national demand in the first half of December and slightly higher recent production. However, NatGasWeather forecasts for the storage draw covering next three weeks are not as bearish as the drop in gas prices. LNG flows are consistently bullish exceeding 10.5 bcf/d. The fundamentals are...

tradexchart

Natural gas futures NG moved higher as it started rolling into January contract on Nov 20. Technical conditions are oversold on 4 hr chart. We have an unfilled gap at $3.1 level, a possible target for an upside move. Weather forecasts into early December are less bearish than last week, but still alternate shots of cold air with periods of warming. Next week EIA...

tradexchart

NG: Natural gas NG contract may find its support at $2.6 level before moving higher into January contract. Prices dropped on warmer weather forecast Nov 18 -Dec 2. From technical perspective, NG is approaching oversold condition on 4 Hr chart. Lower prices are still possible due to bearish EIA report on Nov 19, as built is expected on the backdrop of low demand...

tradexchart

Fundamentals remain bullish. NG Natural gas futures are getting ready for December roll. November contract made a rally up to $3.1 on Wednesday and now is testing support at $2.97 - $2.95 level. A three dollar price level needs some digestion. To break above $3.2 December price will require support from colder weather forecasts and higher LNGs. Rise in seasonal...

tradexchart

Natural gas NG is getting ready to roll into higher priced December contract, Oct 25-29. The upside potential on a roll is $3.2 price level vs. current $2.8. However, weather forecast is bearish for the rest of the week and into early November. LNGs are higher at 8 bcf/d, but Cameron facility and Sabine pass are still blocked and expected to stay that way for the...

tradexchart

Natural gas prices are testing support zone at $2.6-2.5. Price retracement on lighter US demand this week. However, LNG flows are back up to 7 bcf/d and are expected to keep increasing to 10 bcf/d later in October and November - December (NGI). Seasonal demand is expected to improve within the next 2 weeks. A cold shut this weekend, if confirmed, may change price...

tradexchart

VIX and UVXY have shown higher activity in September. Although, historically, we are still at very low levels of volatility, that may change approaching the election. VIX and UVXY are derivative measures of volatility that are moving, in general, in opposite direction to SPX500. However, during times of uncertainty, like upcoming election, VIX and UVXY may remain...

tradexchart

Micron chart keeps rallying towards its earnings day on 09/29/2020 (confirmed). Trading at $47.80, the price is close to its second target of $48.13 (50% Fib level). Potential higher targets are at $51.46 (78.6%) and $54 (100%) levels. Scenario analysis: ADP employment numbers to be reported on Sept 3rd may help with further short-term price advancement, if...

tradexchart Updated 

Bullish factors: NG Natural gas price has been rallying for the past month reaching $2.5 level on increased consumption during summer months, improving LNG flows reaching 5.1 bcf/d in mid-August, and two tropical storms in the Gulf area threatening natural gas production. The fundamentals remain bullish going into mid September. Bearish factors: Production is...

tradexchart

MU: Micron has started its rally toward Q3 - next earnings season. The chart has reached $45.06, its 23.6% Fib retracement level, which may serve as near-term resistance, or consolidation zone before its next leg up. Momentum has turned positive as MACD has crossed to the upside on all time frames. There are two unfilled gaps below, at $43.76 and $42.68 levels....

tradexchart

Bullish factors: NG Natural gas price has been rallying for the past month reaching $2.5 level on increased consumption during summer months, improving LNG flows reaching 5.1 bcf/d in mid-August, and two tropical storms in the Gulf area threatening natural gas production. The fundamentals remain bullish going into mid September. Bearish factors: Production is...

tradexchart Updated 

Gold futures contracts GC have been rising on ongoing worries about economic recovery and unlimited QE. Further price advance is expected, possibly above $1900. Current chart shows negative divergence between RSI and gold price. However, the rally is still strong, targeting $1800 - $1825 level. A near-term pullback into $1742 area may offer a better entry point...

tradexchart

Nasdaq is trading higher following Powell's speech confirming ongoing QE, lending programs, and bonds buying. There is still a room to go higher near-term based on technicals. Targeting new all-time highs, as resistance has not been established yet.

tradexchart Updated 

NG Natural Gas August futures contract has been declining on cancelled LNG shipments and low national demand. US supply keeps steady outpacing demand. US demand started improving on June 21st due to reopening of NY-NJ-PA economies. However, Texas extended its lockdowns, counteracting positive effect of the East Coast. Seasonal heat is high. But with 40-50 August...

tradexchart

NG Natural Gas July futures contract continues declining on recent lower demand. Fundamentals are still bearish: low LNG exports, 4 Bcd vs 9 Bcd in the winter, and cooler weather over North East. The temperature is expected go higher on June 25-28, per NatGasWeather. With economy reopening on June 20-21, EIA weekly report may turn bullish in the 1st week of July....

tradexchart

Natural Gas NG July futures bounced last week on warmer weather and production cuts. On Friday we saw a pullback, as weather forecasts lost some CDDs (cooling degree days). UNG fund started August contract roll on June 12 -17. Technicals: Daily and 4 Hr chart are pointing toward lower prices; 1 Hr chart is forming a bottom. We may have a short-term bounce from...