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BOIL

$BOIL #NG Buy the dipI've been bullish and trading natural gas (BOIL EQT RRC) for a while now and recently sold on the last pump to 2.6 I'm reloading now, as I'm looking at a few things technically I like -Price appears to have found support on a flattening 20DMA , and will next watch to see if we start trending up - The low in May was higher than April , and almost forming a rounded base if we can sustain higher than May's low , it will be a good sign - Strong support at 2 putting in a triple bottom now - even if we go lower, in the longer term as long as we stay above 2 , your entry of say 2.15 won't really matter when we're at 5 ! - EQT and RRC are both flagging and keeping their gains so far, looking for more upside , which of course depends on NG but is providing bullish confluence .
NYMEX:NG1!Long
by FriscoTrades
1
KOLD drops with Natural Gas RisesOn the daily chart KOLD has been testing resistance since February with a single touch in February , a head and shoulders in April and a double top in early May. It is now retracing due to the rise in natural gas prices in the past 10 days. A support line from a prior retracement in early March is drawn at 41.45. This analysis is further supported by the zero-lag MACD oscillator. I will take a trade of put options but short selling is another alternative. Once in the trade, a signal to close will be the red zone outside the bands as was the case in late February. The actual sell signal being the thick MACD black line inflecting from moving downward to upward. KOLD could drop 80% from the present price down to the POC line of the volume profile at about $ 12.50. If leveraged with put options this could represent a 5X profit or better. Any sustained rebound in natural gas prices will lend heavy support to this idea. IF a trader wants to capture smaller moves albeit at the risk of getting into a chop zone, a smaller time fram such as 30-120 minutes could be used.
AMEX:KOLDShort
by AwesomeAvani
1
UNG retracement complete- to uptrend again.UNG as shown on the 15-minute chart had an untrend for a week culminated by the very steep finish to the uptrend into resistance followed by a very rapid bounce down and retracement. A standard 50% Fibonacci retracement is now complete. UNG appears to be bounding off the POC line of the volume profile which coincides with the 0.5 Fib level. UNG tracks the natural gas futures, especially the leading month. It appears now ready to resume an uptrend. This is a directional bearing on the trend for any instrument based on natural gas prices including XNGUSD on forex.
AMEX:UNGLong
by AwesomeAvani
2
BOIL Megaphone PatternBOIL on the 15-minute chart is currently in an upward facing megaphone pattern. I have drawn in the upper and lower trendlines which are a form of static support and resistance. The megaphone pattern is one of increasing volatility between buyers and sellers and indecision It is the opposite of consolidation in a narrow channel. The anchored VWAP shows BOIL to be between the mean VWAP and the first standard deviation band below it. This is generally considered the lower part of the fair value zone. The volume profile has a high volume area of in the price range of 3 to 3.7 while the POC line is confluent with the VWAP. The "better" RSI oscillator/ indicator shows values above 75 at swing highs and values below 25 at swing lows. My goal in this trade is to buy at the lower ( support ) trendline and sell at the higher ( resistance) trendline. I will be watchful for any fibonnaci retracements of a prior trend. At present, BOIL is at that lower trendline and RSI is showing weakness. I will add to my position now as I did in the whipsaw action some hours ago at the location of the bearish engulfing candles in the premarket and the opening.
AMEX:BOILLong
by AwesomeAvani
XNGUSD Bull Pennant Pattern Short then LongXNG has had a big week with a big bullish momentum move into a symmetrical triangle and then a breakout into a bull flag pattern to finish out the trading week. A Bollinger Band squeeze as the symmetrical triangle was underway preceded the breakout. PRice crossed the POC line of the volume profile where trading volume , liquidity and volatility all are the highest Equities and equity funds like BOIL, KOLD, UNG, UNL, LNG had corresponding moves. The Luxalgo ECHO indicator, a predictive AI tool, suggests that from here XNGUSD will retrace 5% or so perhaps targeting the mid/basis line of the Bollinger Bands and then resume its upward trend. the retracement would be 50% of the uptrend which started the morning of 5/18 which was a 10% move. The indicator is predicting the uptrend resumption for 5/22. By extension, equity instruments that mirror natural gas prices presumably will have similar moves. I conclude that my profits achieved in BOIL options after the big move should be prtially taken off the table to buy some KOLD calls or BOIL puts instead to hedge for the prediction of the algorithm tool.
FXOPEN:XNGUSDShort
by AwesomeAvani
BOIL LONG a 3x leverage Natural Gas ETF Natural Gas prices have finally reversed on the FOREX markets after significant downtrends from a historical high. BOIL on the hourly chart has reversed a two-week downtrend and today has an increasing volume. Ir bounced off the lower Fibonacci levels and is looking to revert to the mean. Price was undervalued below the green fair value zone at the VWAP +/- one standard deviation but is now heading back into it from the buying pressure. As a 3x leveraged ETF is prone to more volatility than the unleveraged UNG counterpart. I will play this with a call option contract expiring 3/31 striking $4.00 and expecting at least a 50% return in the upcoming 8 trading days. The risk here is that this is just a short pullback on the downtrend but getting in early on a long and watching carefully is the approach I have taken.
AMEX:BOILLong
by AwesomeAvani
46
The Hard Boiled BOIL Bulls could catch a breakWho says you can't chart 3X leverage? Got a nice down channel here and about to hit the bottom of the channel. 4.20 at the end of next week would be a nice price. That would be over a 96% drop from the top. Interestingly, the previous peaks in Nov 2018 and Feb 2014 dropped just over 96% before touching the channel bottom. Could overshoot below since it overshot out at the top. Also could bounce early like that small bounce in Dec 2015, before tanking lower and tapping the channel. Lots of breakout potential in the RSI. Feeling like there's going to be some crazy times ahead... if things aren't crazy enough.
AMEX:BOILLong
by Lynxys
79
BOIL: Boiling up and down 🥘Still a bit tentatively but visibly, ProShares Bloomberg Natural Gas (aka BOIL) is starting to boil up, quite in accordance with our expectations. As the first part of a three-part counter movement, the ETF should climb further upwards to finish wave a in magenta, before wave b in magenta should return it to its current level. From there, BOIL should rise into the yellow zone between $7.11 and $19.05 to complete wave c in magenta as well as wave (4) in yellow, whose high should then initiate the overarching downwards trend’s final step: wave (II) in white.
AMEX:BOIL
by MarketIntel
8
NATURALGAS Long Natural gas is packed in a tight falling wedge pattern. It is at historic support too, going back to August of 2019. Another point worth mentioning is that the price of natural gas defended this support on February 22nd of this year and produced a >40% rally, peaking on March 3rd. Virtually every timescale from the minutes to the weekly show positive divergences and oversold readings. The targets for this trade are the gaps above, marked in purple. Use UNG or BOIL (x2) for this trade.
NLong
by BigMouse777
3