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GAS

$RRC, cup & handle with a explosion gap pivot play Range Resources Corp is in the exploration and production of AMEX:USO and AMEX:UNG in the US. It was recentlty feature in IBD and got me interested because its good looking cup & handle. Today managed to breakout with a gap. This gap should act as resistance. As the market still needs to prove itself, I won't buy this breakout but the breakout from today's high with a stop loss just below yesterday's high. This strategy is called Explosion Gap Pivot. It uses the gap range as support.
NYSE:RRCLong
by dpuleo19
2
Gasoline almost back to pre-war levelsGasoline in the US has been trending lower and lower, now down 30% from its ATH. It hasn't filled the breakaway gap yet, but I think it will do so in the next few weeks, and that could be an excellent opportunity to go long in the short term. Oil has filled the gaps and chopped at support for a while but is looking weak. What is strange is how supply is limited, the spot market is strong... yet the paper market (futures, etc.) is invalid. Maybe the weakness is due to broadly slowing growth and economic activity, though I am not sure the REAL recession is here yet. The energy crisis isn't over, especially not in Europe... and this could get worse before they get better. Most issues remain the same, and there is very little progress. There are no new refineries; few nuclear plants are active again, Russia is still limiting gas flows to Europe, sanctions make oil flows harder, and OPEC+ cannot increase capacity fast. Our energy needs constantly grow, yet our production has plateaued. Very little can be done now to ease our problems, and our problems will become even worse if the SPR is drained and the US stops supplying the world with oil from its reserves. Most solutions require time, and politically many of these are not welcome by the green movement. Essentially, we have energy producers and green activists colluding to increase energy prices so that the first make more money and the second to make themselves feel good while simultaneously destroying people's lives and the environment. I believe crude oil could get down to 75$ and even 55$ in the short term but ultimately will go much higher once the Fed and other central banks are forced to cut rates and print money. It's all about managing your positions until we get to that point, as a big recession could cause oil and gas prices to tank. Oil and gasoline prices rose so fast that it is almost impossible for such a move not to cause a recession and consequently demand destruction. If we look at Gasoline prices in terms of other fiat currencies, we can see that they went 70% higher than their 2008 peak, which is a lot. I multiplied the RBOB with DXY to get a better picture of the actual cost of gas for everyone outside the US, as the US is less than 25% of the global economy. That means that for almost 90% of the population and 75% of the worldwide economy, gasoline costs 70% more than in 2008. This will have tremendous consequences, especially given the rate at which prices increase. In conclusion, although I don't think prices have bottomed, and we could see a sharp decline in the next few months, I believe gasoline and oil prices will go much higher, and dips are for buying.
NYMEX:RB1!
by BitcoinMacro
NATURAL GAS testing the 1D MA50 support.It has been almost 1.5 month since we last updated our Natural Gas (NG) thesis: As you see the symmetry within this long-term Bullish Megaphone worked perfectly and our sell hit the 1D MA200 (orange trend-line) - 1D MA300 (green trend-line) Support Zone and rebounded. If you took that last buy and you haven't booked profits already, it may be a good time to do so if the current Support on the 1D MA50 (blue trend-line) breaks. The reason is the Double Top formation created on the July 26 rejection. If the 1D MA50 breaks, target again the 1D MA200 at least. This long-term pattern has been very consistent and there seems to be no reason to change that until it breaks either direction. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
NYMEX:NG1!Short
by TradingShot
1
E-mini Natural Gas Futures (QG1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 8.055 Pivot: 7.665 Support : 7.340 Preferred Case: On the H4, with price breaking the ascending trendline, we have a bearish bias that price may drop from our pivot at 7.665 where the overlap resistance is to the 1st support at 7.340, where the 50% fibonacci retracement is. Alternative scenario: Alternatively, price could rise to 1st resistance at 8.055 where the 38.2% fibonacci retracement is. Fundamentals: The Nord Stream gas pipeline has been the recent headline news with Gazprom halting an engine, and the Kremlin commenting that there were ‘some problems’ with another Nord Stream turbine. As the news develops significant volatility in energy prices is expected as uncertainty over gas supply to Germany and the Eurozone intensifies.
NYMEX_MINI:QG1!Short
by Genesiv
Gas futures down 7 of the last 9 weeksFirst of all, I used to always use CL1 as my main source of oil & energy. That measures Crude Oil futures. I think now is also an important reminder about the differences between Crude Oil futures and Gasoline Futures. Before I really get started, let me say I am a big believer in new energy sources. I just don't think it makes sense to dig something up from the ground, burn it once, and then it's gone forever. Especially when it's possible to find sources of energy that are continually producing, no questions asks, no input or output required, just going at all times. The sun is one example. Anyways, let's get back to the chart above that RB Gasoline Futures. This means reformulated gasoline, which is a cleaner type of fuel that is used in most cars and automobiles. So the chart is interesting because you can get feel for the price of gas, the cost to fill up a car, at any given moment. However, keep in mind that gasoline futures involve the delivery of 42,000 gallons of gasoline per contract. That's a lot! I don't know many traders who have enough space to store 42,000 gallons of gasoline. That's true for all futures contracts... they are huge quantities. So if you look at RB1! you will see an interesting double bottom. That looks playable. But then again, 42,000 gallons per contract. Oil is coming on globally, cars are getting more efficient, and new energy sources are emerging. My takeaway from all of this simple: a tradeable bounce is here. Quick swing trade. But I am not so sure that bounce will blast off quickly to the moon. So this entire chart and energy market is in a strange situation. Did the bull rally come and go that fast? More importantly, what does that mean for all other markets from stocks to crypto? I would add this chart to your Watchlist...
NYMEX:RB1!
by scheplick
6
BTC Bull CaseThese are my quick plans on how i plan to trade BTC short term Option 1 is a break above the Mid range and hold I will long with stops below Mid and targets to range high and above, Option 2 is a break down and show signs of support at that Range low, if it holds i will look for entries to target mid and range high. Do i care which way it goes , NO, am i predicting what way it goes NO.. these are plans, if this do this... It might well god candle up and not give any trigger to get in and that is ok. My bear plan will follow where if it show certain Characteristics i will look for shorts.
Long
by gillman_hugh
NATURAL GAS - BAT PATTERN IN MAKINGNATURAL GAS is printing a bullish bat pattern. It is still in early stage as point C has defined its place. Pattern will complete at point D which is projected at 4. The price has already been rejected at the key resistance on the daily chart, and RSI is headed downwards. There has also been a continuous decrease in volume from the first time the price tested the key resistance. This may confirm that the price doesn’t have enough momentum to break through the resistance and is now set for a correction. There are a lot of contributing factors pointing to a bearish scenario for natural gas. Although the price might be bearish, watch out for relief pumps, especially on the support levels. What do you think of the idea?
FXOPEN:XNGUSDShort
by TradeTrio
1
Natural Gas from 3 technical perspectives The current overall trend for Natural Gas is bearish, as seen from the monthly chart. The commodity has possibly just completed the 5th wave of the Elliot Impulse Wave, this means that the next movement is possibly a correction. There is also a divergence as seen in the price action and the RSI Indicator which signals the trend weakening. However, the RSI could still possibly reach the 70 level before the price initiates that 5th wave correction. Natural Gas, from the weekly perspective, has recently met the key resistance of 8.87 to 9.707, which could mean possible downside pressure is building. The price is also in a double top formation which is a bearish pattern. If the price fails to break the key resistance, it could possibly revisit support areas of 5.507, 3.631. On the other hand, if the price does break the resistance, it could possibly go up and test another key resistance around 13.539 to 15.78 which is the all-time high for the commodity. On the daily graph for Natural gas, the price has already seemed to reject at the key resistance and RSI is headed downwards. The price might fall between 6.392 to 5.507 as the 200 MA acts as a strong support confluence. There has also been a continuous decrease in volume from the first time the price tested the key resistance. This may confirm that the price doesn’t have enough momentum to break through the resistance and is now set for a correction. There are a lot of contributing factors pointing to a bearish scenario for Natural Gas Although the price might be heading towards a bearish direction, watch out for relief pumps especially on the support levels.
MCX:NATURALGAS1!
by BlackBull_Markets
$USOIL charting in advance 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management !! This chart analysis is for reference purposes only !! My team was able to accurately predict support holding up for oil in our post down below, but we do not think that support will hold on much longer. My team still believes that energy will get its time to shine, but we're seeing a buy zone somewhere in the 80 range. We can't predict the future, but we believe that this chart will be useful in predicting $USOIL going forward no matter if its bullish or bearish. If you want to see more, please like and follow us @SimplyShowMeTheMoney
TVC:USOILShort
by SimplyShowMeTheMoney
$PDN Paladin Energy PDN Formed a nice macro Bull Flag that broke out and trapped a lot of traders as it turned out to be a fakeout. These Breakout traders have since puked their positions on the fake breakout. PDN then broke support and ranged under the OCT 2004 ATH. This looked like PDN was breaking down and about to go lower.. Exactly whaty a big Hedge fund would want you to think if they were building a position. they are hunting for liquitity imo. Im bullish here for the following reason. 1.Reclaim of 2004 ATH acting as resistance. 2.Stoch in an area that tends to have a high probability for long setup 3.Small but Bullish Divergence on MACD. A nice clean break and hold above 720 may start the next leg up on this stock
ASX:PDNLong
by gillman_hugh
Natural Gas time to easy Rally To evaluate the trend of Natural Gas we must take into account 2 factors: 1) The international macro political scenarios: Russia, which is the world's leading producer, will export less to its main customer the European Union. Winter in Europe is upon us and there is a serious risk of an energy blockade, Europe will find GAS but the cost from September onwards will be very high with the main natural gas producer out of the market. 2) Graphically we can deduce a strongly bullish graphic structure where increasing minimums and maximums constantly lean on well-defined supports, the price above the moving averages 100, 200 and the fibonacci extension speaks clearly the price should orbit soon at the price of $ 15. GAS export data: In 2020, the 5 largest gas exporters in the world were Russia (199,928 mcm), United States (149,538 mcm), Qatar (143,700 mcm), Norway (112,951 mcm), Australia (102,562 mcm). Winter is coming (Cit 'GOT) LPI.sa
NLong
by LPI_Investments