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GAS

NG: UNG: BOIL: Natural Gas Chart Forming a Top?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 steady at about 92 bcf/day, while consumption has been declining to 83 bcf/day lately on cooling temperatures. Two tropical storms, Marco and Laura, are not expected to produce substantial disruption to natural gas production, but may produce loss in demand due to cooling temperatures and power outages. Technical analysis: Divergence between price and volume is pointing toward a potential top. On a daily chart , RSI is above 70, approaching overbought territory. We have an unclosed gap at $2.77 level, which may be the next top. National demand is expected to be cooling going into September. Overall demand will be driven largely by LNG exports, which are expected to remain steady at around 5 bcf/day, 10-20% below levels seen in the fall of 2019. The forward curve seems to be pricing in a more robust recovery in demand than actually observed.
NYMEX:NG1!
by tradexchart
NG: UNG: BOIL: Natural Gas Chart is Forming a TopBullish 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 steady at about 92 bcf/day, while consumption has been declining to 83 bcf/day lately on cooling temperatures. Two tropical storms, Marco and Laura, are not expected to produce substantial disruption to natural gas production, but may produce loss in demand due to cooling temperatures and power outages. Technical analysis: Divergence between price and volume is pointing toward a potential top. On a daily chart, RSI is above 70, approaching overbought territory. We have an unclosed gap at $2.77 level, which may be the next top. National demand is expected to be cooling going into September. Overall demand will be driven largely by LNG exports, which are expected to remain steady at around 5 bcf/day, 10-20% below levels seen in the fall of 2019. The forward curve seems to be pricing in a more robust recovery in demand than actually observed.
NYMEX:NG1!
by tradexchart
GUSH may have a bullish week. BUY SET UPthis is a trade idea on GUSH the s&p oil and gas index. This week looks like it MAY be bullish but this index seems to gap often and drop quickly. it appears that the down trend in the long term has worn out but the goal is always to get the pieces out of the market and not overhold trades. the entry and exits are shown on the chart. the risk and reward is nice BUT this is not to be considered long term analysis this is a trade set up and analysis only for this week. all my trade ideas are influenced by the elliot wave principles if you find my charting helpful please follow.
AMEX:GUSHLong
by Investatrade-Charts
2
NATGAS Update and New Trading SuggestionMidterm forecast: 2.200 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 2.200 is broken. Technical analysis: The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased. While the RSI uptrend #2 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 1.640 on 07/20/2020, so more gains to resistance(s) 2.500, 2.700, 2.950 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 74. Trade Setup: We opened 10 BUY trade(s) @ 1.94 based on 'previous Forecast' at 2020.07.29 : Total Profit: 313 point Closed trade(s): 109 point Profit Open trade(s): 204 point Profit Closed Profit: TP2 @ 2.00 touched at 2020.08.03 with 6 point Profit. TP3 @ 2.10 touched at 2020.08.03 with 16 point Profit. TP4 @ 2.25 touched at 2020.08.04 with 31 point Profit. TP5 @ 2.50 touched at 2020.08.04 with 56 point Profit. 6 + 16 + 31 + 56 = 109 point Open Profit: Profit for one trade is 2.45(current price) - 1.94 (open price) = 51 point 4 trade(s) still open, therefore total profit for open trade(s) is 51 x 4 = 204 point New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (2.330) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. Take Profits: TP5= 2.500 TP6= 2.700 TP7= 2.950 TP8= 3.350 TP9= 3.700 TP10= Free ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
NLong
by ForecastCity
14
NATGAS Update and New Trading SuggestionMidterm forecast: 2.200 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 2.200 is broken. Technical analysis: The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased. While the RSI uptrend #2 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 1.640 on 07/20/2020, so more gains to resistance(s) 2.500, 2.700, 2.950 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 74. Trade Setup: We opened 10 BUY trade(s) @ 1.94 based on 'previous Forecast' at 2020.07.29 : Total Profit: 313 point Closed trade(s): 109 point Profit Open trade(s): 204 point Profit Closed Profit: TP2 @ 2.00 touched at 2020.08.03 with 6 point Profit. TP3 @ 2.10 touched at 2020.08.03 with 16 point Profit. TP4 @ 2.25 touched at 2020.08.04 with 31 point Profit. TP5 @ 2.50 touched at 2020.08.04 with 56 point Profit. 6 + 16 + 31 + 56 = 109 point Open Profit: Profit for one trade is 2.45(current price) - 1.94 (open price) = 51 point 4 trade(s) still open, therefore total profit for open trade(s) is 51 x 4 = 204 point New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (2.330) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. Take Profits: TP5= 2.500 TP6= 2.700 TP7= 2.950 TP8= 3.350 TP9= 3.700 TP10= Free ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
NLong
by ForecastCity
10
NATURAL GAS Rallye haussier du natural gas après avoir casser la résistance des 1.962, celui ci pourrait continuer a faire des plus haut dans ce long canal haussier qui vient de se former. Notre vue est plus du côté des bull mais nous nous attendons a une légère correction du marché avant de retrouver une hausse plus importante. Voici nos objectif , nos zone de risques , ainsi que notre prix d'entrée. NATURAL GAS SIGNAL ALERTE⚠️ ⚠️ BUY / ACHAT🟡 : 2.298 STOP LOSS🔴 : 2.178 TP 1🔵 : 2.592 TP2 🟢 : 2.888 POTENTIEL PROFIT : + 25,61%📈 POTENTIAL LOSE : - 5.06% @FOREXONOMIE
NLong
by UnknownUnicorn10909208
Time is Running Out for NG Bears 8/14/2020Natural gas at the daily view. Natty is currently in a giant bull flag right now. Bears had nearly 2 weeks and every chance to take NG down. However, it didn't happen, yet. Unless that happens, Natty is consolidating for another leg up. The 300 DMA is at 2.08. The 400 DMA is at 2.24. That's why Natty has been bouncing between those two prices. Here is why bears are running out of time. The 20 DMA just crossed upwards to the 200 DMA. Normally, that's a bullish sign. The 50 DMA will be doing the same within less than 2 weeks. When that happens, the measured move for the next leg up is around 2.48. My bias at this point is becoming increasingly bullish. Personally, I'll start scaling in next week.
NYMEX:NG1!
by Itsallsotiresome
1
NATURAL GAS Sell SignalPattern: Bullish Megaphone on 1D. Signal: Sell as the price is testing the Higher Highs trend-line of the pattern. RSI also close to a top. Target: 1.950 (potential Golden Cross). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! Shout-out to TradingShot's top TradingView Coin donor this week ==> @scheplick
NYMEX:NG1!Short
by TradingShot
2
Natural Gas at a CrossroadsNatural gas at the daily view. Natural gas experienced a pullback. That shouldn't be surprising at all since profit taking after a spike up is normal. The lower blue line is the ascending resistance stemming from March 23rd. Interestingly, a long-term channel line is also acting as temporary resistance. So, natural gas has two choices. Either natural gas consolidates here for another move up or move down to a key support below around $1.98. That channel line below served as a support from years past once momentum to the upside picks up. For natural gas, you have to think in bigger time frames. Most gas traders that I see only see it at 15 minute or similar small frame views. By being stuck at smaller time frames, traders tend to lose the big picture. For example, many permabears didn't see that inverse head and shoulders pattern in the last 2 months nor the bottoming pattern at the weekly view. Furthermore, natural gas is currently forming a big bull flag... for now. If natural gas reaches 1.98, the bull flag is still intact. August usually provides the summer spike. However, September is when natural gas usage slows down. Why don't I think natural gas will continue to decline? Seasonality is obvious. A wave of gas companies already filed for bankruptcy back in June which cuts down the number of suppliers in the longer term. The Midwestern states are also still open where a large part of the industrial sector resides. The industrial sector is one of the largest users of natural gas by the way. The Midwestern states are much more sparsely populated and the population travels less overseas too. Last year, natural gas declined due to the US having one of the warmest winters in recent history. If I remember my science classes from college, nature has a way to balance things out. Current forecasts for this coming winter in the US is another polar vortex. That's fundamentals. Let's look at it from a technical view. Last month, natural gas was only around $0.50 from the historic lows. Gas also already had a 2-year bear market. As everyone who ever traded for years, every market cycle and every bull/bear market comes to an end eventually. The summer months show an obvious bottoming pattern. It might be extended. The flag support for gas is around 1.58. That said, the downside is much less than the upside. Let say, you longed from 1.90 and the prices dropped to 1.58. Gas is very seasonal. You would only play the waiting game for prices to ramp up in preparation for fall and winter. If you short from 1.90 and enters its seasonal bull run, what are the chances that it will return back to the 1.50? I don't know myself, but it seems lower than the previous scenario. Think about it. If you go short near the all-time lows, that's as reckless as going long near the all-time highs. It's simple probabilities. Market sentiment about natural gas is excessively bearish. If everyone is bearish on an asset, then that's actually a bullish signal. Why? If all the bears are already in a short position, what will stop buyers from driving the price up? The issue with gas is that you have to look at it from a macro view like Bitcoin. The big picture will always trump the small movements.
NYMEX:NG1!
by Itsallsotiresome
Gas in Season 8/8/2020Natural gas is finally in season due to the increased demand for A/C. Natural gas made an inverse head and shoulders pattern for the past few months. It met resistance right at one of my green lines. It's green because it will eventually become support in the future. Natural gas is very seasonal. Right now, the demand has increased due to the hot weather in August. However, natural gas may spike down during September due to cooler temperatures. If natural gas doesn't go back to the lows, then it may be forming a multi-day bull flag during September. Natural gas tends to really ramp up in colder temperatures starting in mid-October. Personally, I would not short natural gas. Sure, you can make a case for the spikes down. Let's look at the big picture here. Last month had the lowest prices in natural gas in nearly 30 years. If you are already at near historic lows, how much more can you short? You're trying to squeeze juice from a dried fruit at that point. Let's say you longed gas and it spikes down. All you have to do is wait for winter to get profits. Why? Cold temperatures require heat. Heat requires energy. Energy requires fuel. Oil prices are also coming back too. If you think about it, gas is a laggard. You need oil to produce gas. If oil becomes more expensive, gas will eventually become more expensive. If not, imagine by next year if a vaccine is developed. Uni of Oxford was on it since January. Demand for energy will skyrocket once a vaccine is mass produced. We were already near historic lows in natural gas. It's just playing a waiting game for it to spike further. Chess, not checkers.
NYMEX:NG1!
by Itsallsotiresome
Gas in a Box 7/31/2020Natural gas at the 4 hour view. It turns out that natural gas has been in a downward channel since 2018. Furthermore, in the last 3 months, gas has been in a trading box. You know what this means? Gas has become predictable. It may look choppy at first, but it's trading in a general range between 1.58 to 1.93. There were spikes above and below that range. However, those spikes do not last long at all. Furthermore, it seems the upward and downward movements last in a weekly cycle. Since equities seems to be going no where, I think I found my favorite commodity to trade. Personally, I would mainly long gas at the bottom. Why? We are at historic lows for natural gas. Gas is also seasonal. Usage has increased due to the need for more air conditioning in the summer heat. I would still use UGAZF since the liquidity is still there. I would not short gas unless seasonality, lower usage, and a cyclical correction are all on your side. Shorting takes a lot more skill than longing. Once we start recovering economically, natural gas may skyrocket due to increased usage. How much usage would increase if California and New York actually open for business?
NYMEX:NG1!
by Itsallsotiresome