Natural Gas Heading Towards 3.20Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in Natural Gas.
Trend Analysis
The main view of this trade idea is on the 2-Hour chart. Natural Gas has been in a rangebound or rectangular trading pattern since the end of June and is currently making another move lower towards 3.50 support. The key move will be a breakdown from support which will take the commodity towards 3.20.
Technical Indicators
Natural Gas is currently below its short (25-SMA), medium (75-SMA) and fractal moving averages and its RSI is trading below 50, heading towards oversold levels. Moreover, the KST is in a bearish move .
Recommendation
The recommendation will be to go short at market. At the time of publishing Natural Gas is trading around 3.61. The medium-term target price is observed around the 3.2 price level. A stop loss is set at 3.85. This produces a risk reward ratio of 1.77.
Commoditytrading
GOLD ANALYSIS!!! Hi Everyone, GOLD price reversed 1750.00 USD on 1D chart, level 1.618 of Harmonic XABCD pattern. On daily chart its bullish & can go 1885.00 USD which is weekly resistance & daily support 1750.00 USD if breaks can go 1675.00 USD.
WEEKLY SUPPORT & RESISTANCE.
On weekly chart GOLD price is downtrend, support 1675.00 USD & resistance 2080.00 USD. TVC:GOLD
XAUUSD : Correction Complete and bullish continuationHi... my bad this is my 1st video Analysis....
following are the things to look for on Gold....
Impulse 5 Wave is complete.
Correction 3 Wave @61.8 Fib
Wave 1 & 2 of the Higher Degree complete @61.8 if break below 61.8 expect 78.6 ten from there you can Buy Gold.
For our Bullish Bias wait for a break above 1791.62 to if you dont want to Buy @ the Current price as we are expecting the creation of Wave 3 to the top
Are we entering a commodity super-cycle?Definition of a commodity super-cycle:
Commodity super cycles are decade-long periods in which commodities trade above their long-term price trend.
Technical Analysis:
Using a weekly candlestick to see the bigger picture.
DBC is breaking out of a 10 year long downtrend.
On Balance Volume is supportive, as it is also breaking higher, reaching levels from a decade before.
We are breaking and testing $18.5, which is a very long-term resistance; now potentially turning into support.
This is a long-term setup.
R1, R2 and R3 are potential targets to take some profits.
Fundamental factors:
Weakening dollar
Supportive central banks
Fiscal stimulus geared for infrastructure spending
Pent-up demand once as global economies re-open.
Government and private companies increasingly pledging carbon reduction measures.
Inflation ticking higher, as the Fed is taking a new approach of waiting, rather than anticipating, as it has done in the past.
NatGas: What Goes Around Comes Around Although the NatGas price sharply dropped, we expect it to further rise until we are closer to $3.316. From there, we expect a longer corrective movement to dominate until around $2.187. After that, we should experience rising prices again that lead us over $3.800.
Stay trading!
Silver: Turning Point? 🔀🔀🔀We have reached the area around $28.935, where we expected the silver price to turn and move down South. If the price stays below that threshold there is no reason for us to change that expectation, though above that mark we would adjust the probability of the alternative scenario to 45%. In the longer run, we expect the silver price to fall below $24.04.
Want more? Follow us!
WTI - RANGE BOUND!WTI - RANGE BOUND!
Commodities overall since last yr are on a rise as seen on commodity index, I mean look at lumber and various others the % of return has been great and this has been increasing due to inflation, lower dollar etc.
For now WTI - We are still within the range technically.
Pattern: Pennant
Support: 62.62, 60.30, 59.15, 57.20, 55.40
Resistance: 67.15, 69.75, 72.65, 75.15
A break to either direction for further clarification, the key trendline up staying above the bulls are still in control if we break below trendline up bears may start coming in.
Trade Journal
(Just a trade idea, not a recommendation)
Long Oil Trade! After a false break above the trendline, still, I was anticipating a move lower and perhaps a retest of the bottom trendline for a short entry... that didn't happen and so, we missed out. However, as we inch closer to fill the Shaven Head Candle which is marked on the chart, that same level is also a strong support level - hence the long trade to.. as you might guess, to fill a Shaven Head Candle at 62.83.
Happy Trading folks!
Cheers!
WTI Crude Oil - The Bigger Picture 👀There's a great chance that we would see higher prices on Crude Oil and for two reasons only... technically!
1. $63.90 level was taken out which opens up room to go higher.
2. Crude Oil... yes we just discovered this recently, it had broken above the Monthly Down Trendline awaiting a possible retest before a move higher.
So yes, that's the bigger picture.. at least it's what I see anyway! 😊
Happy Trading folks!
Cheers!
GOLD Close To Breaking Key Resistance at 1765- Strong momentum play
- Double bottom higher high
- Confirmation can be found on the breakout
- Allow to pull back
- Enter at support level
PLEASE SEE ACCURATE RELATED ANALYSIS
Gold on Weekly - C&H on monthly - 50% FIbo test - BullishThe weekly chart show a nice descending wedge which can form the Handle For the Huge Cup and Handle since 2012.
last Friday, GOld touch 50% on Monthly to rebound there. This bullish wolf, seems valid for a rebund to 2100 or more
Gold: Hard Work 🛠🛠🛠It hasn’t been easy for the bulls in the gold market to defend the upward movement, as the bears were able to pull the price back down around the crucial mark at $1742. In order for our primary scenario to stay intact, we need the bulls to push for another run to reach $1782. From there, we should see a small correction before additional increases in the price.
What would you like to see us analyze next?
Brent Crude: Great Potential 💯💯💯Although it does not seem like there is much to see in this chart, we actually expect the British crude oil to perform very well over the next couple of months. In the imminent course of action, we believe that the price will slightly increase and then move on to complete the correction under $59.04. From there, we will be all set to experience a long bullish run in the direction of $80 and above!
Also, check out our other forecasts!
Crude Oil looking for a BREAK below. A break below the trendline could send Crude to the next major support level on the chart.
Happy Trading!
Cheers :)
GOLD Buy Signals on W1GOLD, W1: Support line + Mirror level + Side of Bollinger bands + Dragonfly doji
ZLN2021-ZLZ2021 : Seasonality on soybean oilFor the third time in this seasonal window, we enter short and try to take advantage of this trend in which seasonally from the beginning to the end of the season 15 years out of 15, this spread has been in profit with small drawdowns.
www.seasonalgo.com
Silver: Wait After WaitThe last couple of weeks have been relatively tiring as we are desperately waiting for the silver to make a move. This market is developing very slowly. Our expectation is that we will see declining prices for silver, as we expect it to move under $24.04. Somewhere around $22.23, we should see a short correction before the price gradually moves under $20. As long as we stay above $24.04, however, there is a 35% chance that the bulls take over and push for new highs above $30.35.
Patience pays off!
📈 (3/14)-(3/15) ES Trade Plan 📈 Hello Traders, today we'll be following up from last week's 3/12 Trade Plan. The last time we took a look at ES I mentioned healthy pullback to about 3901 or so before another attempt at last week's high near 3958.50-3959.25 - Well thats exactly what happened. Here's the new plan:
🔸 Long after a healthy pullback to minor supports 3933 or ideally 3923
🔸 PT Near @3945, 3958-3959 (ATH), Low 4000's.
🔸 Short rejecting @3946-3948 or failing to break over 3958-3959 (ATH)
🔸 PT Near @3935, 3922, 3901.
US Dollar Still DowntrendingSince the begging of 2021, we have seen around a 2% rally for the $USD; however, there is clearly a downtrend that has to be broken before the bulls get in.
The next level after breaking the upper channel line would be the 100sma, which has proven to be useful as a trend-following system.
COPPER (31 MAR 21) BUY NEAR 717.60 SL 713 UPSIDE 728MCX Copper (31 Mar 21) will move upside from the current market price 717.60-718 with SL 713 and upside TGT will bear 722/725/728
MCX:COPPER1!
Are you ready for some Natural Gas ?I believe Nat Gas is approaching a crucial demand zone! WHAT NEXT?
My current view remained neutral and speculative with Natural Gas being in a range of 2.9xx - 3.400. However, Natural Gas could develop a bullish move if the weather condition in the US continued to strengthen.
For Intraday traders, you could look for Buy setups as it approaches 2.9xx with R:R ratio at 3.04. To be more clear, your target will be at 3.400 and stoploss at 2.740. If you want to be risky your stop loss could be at 2.550.
For Swing traders and Position traders, I will not take this trade.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
~ Tuan Anh Commo
Gold TargetGold traget to be 44416.
50 ema &200 ema is in downtrend .
Rejection at 200 ema.
Closed below S2
Commodities poised for breakout?Copper and WTI has breakout, now gold and silver are eagerly waiting to moon....
