ridethepig | Natural Gas Breaking Out!A nice swing cooking right on time for December seasonality flows to kick in.
This leg higher threatens the sacrifice of resistance and creates freedom to manoeuvre towards $4 and $5 in 2021. We have a similar sized move cooking in energy to the leg we traded in Oil, only this time round the swing we are tracking is to the topside. See for example the following breakdown we traded in Oil;
In the ST, play with the flow and continue ride the leg higher towards something like +/- 3.5 and 4.0 as the extension. Sellers are quite paralysed.
For the MT and LT as we know, the philosophy of transition towards a 'Green new Deal' or 'Build back better' in such a short period of time constitutes a pipe dream. Already power grids are coughing badly with so much activity from lockdowns and more people at home, the theory that we will all be driving electric cars and etc looks quite far... one cannot rebuild energy without great difficulties is important to understand.
Thanks as usual for keeping the feedback coming 👍 or 👎
GAS
NG: UNG: BOIL: Natural Gas Oversold, Roll into January ContractNatural 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 report is expected to be on a bullish side, a draw of about 20 Bcf, as demand exceeded supply for the period ending Nov 18. Expecting a gradual move to higher prices, unless weather forecasts change showing more cold temperatures coming.
NG: UNG: BOIL: Natural Gas Looking for Support 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 through November 20. However, roll into January contract Nov 22 - 25 may provide support for this transition into colder temperatures starting first week of December. Should NG start rolling into January as early as November 19, the dip may not be a slow as expected due to warm weather.
$RSSV PT of .50-$1.50+ Based on Valuation and Upcoming CatalystsO/S of 109,000,000 Float of 32,000,000 $24 Mil in assets+$18Mil-$11 Mil = $31 Mil valuation/109.9 Mil O/S = .283 Stock Valuation x PB Ratio of 3 = PT of .846 PPS
The company has real assets, products, sales and patents. A pending acquisition worth $18 Mil in assets and $11 Mil in liabilities. They have 311 Oil and Gas production products, 30 Coal products and 251 Healthcare products. Also upcoming fins next week.
This thing went from .035 to .60 in 3 days last time on news in July, I anticipate the next news to drop will do the same here especially with the chart buildout it has now. Will continue to add under .10 for possible .50-$1.00 move.
NATURAL GAS Long-term Buy SignalPattern: Channel Up on 1D.
Signal: Buy as the price bounced on the 1D MA200 which has been holding and acting as a buy entry since March 31. Also the RSI bounced on its multi-month Support level.
Target: 3.350 (right below the Resistance).
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This is the future of world energy !
This is the future of world energy !
another correction to complete second wave and $6.6 is target of wave 3
Natural gas updatewe have seen natural gas drop significally since covid possible retracements
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ISSAFX1
NATURAL GAS: long. /section fast transactions/Buy on 3.001
TP 3.18
SL 2.84
Information provided is only educational and should not be used to take action in the market.
This section is intended for short-term speculation. Be ready to leave a position at any time.
Swing trade potentialGood spot here for KMI.
A few different variables with election, future economy forcast.
Looking at chart, looks like KMI entering pivot point, if breaks through $12 and holds through 11/5 then R1 is 1st Price Target.
If it fails then looking for a bounce at S1 to hop in.
Might open a small position either way at open tomorrow and feel it out.
*indicators used*
-ZigZag
-Pivots
-Supertrend V1.0
-Vol
-MACD
*Please leave a like if you find this helpful*
Natural GasAt Natural Gas, I found a very attractive chart. This is interesting to me. I found the highest performance back to the date 12 December 2005, with 16.475 points and the lowest performance on the date 18 February 1992 with 1093 points. I see a powerful movement every day with strong direction and seems not affected by the pandemic. Amazing. At this time, I need to watch on my watch list at moment. And when it comes to the best moment, I will make an excellent transaction for the long term.
CONTINUE OR RETRACE Natural Gas could continue in this bullish channel however, I would like to see it pull back into this support level before going long again. You need to remember Natural Gas is a seasonal commodity and generally around winter time is when it will be utilized to combine that with another potential lockdown here in the UK could see people stuck indoors for longer than normal.
NATURAL GAS Still some downside left before recoveryPattern: Channel Up on 1D.
Signal: Buy on the 0.500 Fibonacci retracement level.
Target: 3.350 (just below the Resistance).
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LONG 857 (Petrochina)Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Performance of GAS DistributorsWe can see the Performance of GAS Distributors ADANIGAS & IGL Out Performing.
NG: UNG: BOIL: Natural Gas testing support before moving higherFundamentals 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 demand is confirmed by weather forecasts for the second half of November and into December - January. Last week in October forecast has now turned colder predicting high national demand for the next week (NatGasWeather). Supply/demand balance is tightening. LNGs are at 8-8.5 bcf/d with expectations to increase to 10 bcf/d within the next a couple of weeks.
Technicals are pointing toward a pullback before the roll begins and prices move higher. Currently, support for November contract is seen at $2.97-$2.95 level. Even if lower prices are seen on Friday, the dip may represent a buying opportunity before the roll.
NG: UNG: BOIL: Natural Gas Upside Potential vs. Bearish WeatherNatural 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 next a couple of weeks. NGI predicts trough in demand later this week. NatGasWeather predicts low national demand Tue -Fri on warming in high consumption areas. November contract may dip toward expiration.
Technical Indicators: MACD chart has formed a double bottom pointing to higher prices. RSI has potential for a move higher, but may also form an island top with a dip lower before going higher, should traders react negatively to bearish weather forecast for end of October - beginning of November.
The Volume bars on a price chart (see circle on top chart) showed limited buying at $2.8 level. Support for November contract is seen at around $2.7 level. Some analysts see support at $2.595 - $2.572 levels, should weather models lose TDDs later in October.
Higher prices on Monday afternoon were supported by cold shot over Plains and Rockies and trader optimism.
NG:UNG:BOIL: Natural Gas Futures testing supportNatural 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 action to bullish.
TXP find GASTXP is a small cap oil and gas explorer, this month they found significant gas in Trinidad and have a big drill coming up in November
Nat Gas Sell - Trading ideaBelow the strong resistance drawn on monthly chart / poised for a good correction downwards, even to 1.67 leveles
Will October be Déjà vu for NATURAL GAS?Quick observation here. NG traders that are deep into the commodity's technical dynamics agree that Natural Gas is trading on patterns that are cyclical on the very long-term.
If cyclical behavior and seasonality play a big part on this, then why should the month of October be any different? Every 4 years since 2012, NG makes a bottom around March-April, then rises aggressively up until October, which initiates a pull-back. That pull-back appears to be a Bull Flag for a new High a few months later.
Will history repeat itself?
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Sell NGLittle target 212/210.
Main stop loss at 219.
* Disclaimer : NG tips always for Risky traders.
NG Major ReversalA ton of commodities are bottoming imo, this is one of them. Good r/r to long, recovery rally longs are always the best trades in terms of r/r.
