Get started

GAS

June 7 Market Update | Technical, Fundamental, NewsDescription: An analysis for the week ahead. Points of Interest: ATH; Gap Above; Gaps and VPOCs Below; Absence Of Stronger Sellers. Technical: Risk-on sentiment in all major indices. Despite the Nasdaq-100 surpassing it’s all-time high, its moves have become more muted, signaling a rotation from the bigger technology- and innovation-driven companies to energy, transportation, financials, small caps, and so on. Monday came after an end-of-week flush and a close at the highs. Monday’s overnight action was supported with buyers lifting into the open. Tuesday’s open seemed exhausted, with some heavy offers developing at and above $3075. Later, the S&P 500 traded down to $3050, an area of resting liquidity, before closing higher. Wednesday’s session squeezed higher into $3111, came down to some resting bids at $3090, and then buyers closed the range, again. Friday opened on a massive gap, exacerbated by the May jobs report. The session ended up balancing at and around the $3200 strike. Putting everything together, the picture points to further upside, but it’s obvious that cracks are beginning to form as indicated by the mechanical, short-term momentum-driven activity going on. As long as value shifts higher and liquidations fail to generate any follow through, then the bullish narrative remains. Scroll to bottom of document for non-profile charts. Key Events: NFIB Small Business Optimism; JOLTS Survey; Wholesale Trade; CPI; PPI; Initial Claims; Import Prices; University of Michigan Sentiment Survey; FOMC Meeting. Fundamental: Absent a second wave and geopolitical turmoil, momentum will push markets higher. bloom.bg Despite government measures, COVID-19 is wreaking havoc on Latin America. bit.ly Canada adds 290,000 jobs as restrictions on business are loosened. reut.rs The U.S. economy added jobs in May with the jobless rate falling to 13.3%. reut.rs The Senate loosened the rules small businesses must follow when applying for PPP. bit.ly The personal care, restaurant, entertainment, and leisure industries are recovering. bit.ly Non-white communities realize un-equal recovery, worsened by low liquidity and savings. wapo.st YouTube’s growth paints a bullish picture for Google parent Alphabet. bit.ly NASDAQ:GOOGL NASDAQ:GOOG Corporate bond yield spreads reflect expectations of a business cycle upturn. bit.ly Easing of capital outflows from ASEAN markets reduced liquidity pressures. bit.ly China’s manufacturing returned to trend, but the consumer sector is still lagging. bloom.bg Repression, or forced lending to the government at low rates, may be bullish. bloom.bg By the end of 2020, earnings will be higher than they were in 2019. bloom.bg Valuation methods pin fair value for the S&P 500 Index between $2,200 and $2,800. bit.ly Low rates rationalize the outperformance of growth companies. bit.ly Fed’s balance sheet expansion may slow down inflation. bit.ly Expensive stocks have not reached levels seen during the tech bubble. bloom.bg Eurozone corona-bonds would help euro-denominated assets outperform. bloom.bg OPEC+ agrees to one-month extension of output cuts. reut.rs Ford is evaluating the need for office space. reut.rs NYSE:F Remote work to spark a housing boom in the suburbs and smaller cities. on.wsj.com Amazon plans summer sale for June 22 to jumpstart sales after demand hit. cnb.cx NASDAQ:AMZN ‘Nuclear Option’: U.S. could cut Beijing from the dollar payment system. bit.ly Sentiment: 34.6% Bullish, 26.6% Neutral, 38.9% Bearish as of 5/31/2020. bit.ly Gamma Exposure: (Trending Higher) 4, 239, 083, 647 as of 6/6/2020. bit.ly Dark Pool Index: (Trending Higher) 45.2% as of 6/6/2020. bit.ly Product Analysis: S&P 500 (ES): AMEX:SPY TVC:SPX AMEX:SPXL Nasdaq 100 (NQ): NASDAQ:QQQ TVC:NDX NASDAQ:TQQQ Russell 2000 (RTY): AMEX:IWM TVC:RUT Dow Jones (YM): AMEX:DIA TVC:DJI Gold (GC): AMEX:GLD Crude Oil (CL): AMEX:USO AMEX:DBO AMEX:USL Natural Gas (NG): AMEX:UNG Treasury Bonds (ZB): NASDAQ:TLT Disclaimer: This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me. In no way should this post be construed as investment advice.
CME_MINI:ES1!
by Physik
UGAZ: NG Natural Gas Getting Ready For A Move Up?Chart patterns are suggesting a reversal to the upside, possibly targeting $18-$24 levels for UGAZ, as NG prices are expected to go higher into the summer heat and economy reopening by 3rd week of June in NY, NJ, PA. We may have another a couple of days of consolidation with lower prices due to bearish EIA report on Thursday. Expecting over 100 bcf in storage. However, rising demand is on the horizon. NG price targets are: $1.8; $1.93, $2.048. UGAZ, being ETN, may not reach its recent highs in the 30s. However, it is expected to get into mid 20s, with resistance at around $26 price level.
U
by tradexchart
5
NG: Natural Gas: UGAZ: Getting Ready For A Move Up?NG: Potential bottom is forming at $1.78 level. Natural Gas July futures contracts were trading lower on Tuesday finding support at $1.78. MACD histogram is at the crossing point pointing toward higher prices. Near-term resistance is seen near $1.978, a 38.2% Fib retracement level of the recent move down, with $2.048 being a 50% Fib retracement. RSI is also forming a bottoming pattern pointing toward higher levels. Further consolidation is possible until we have a bullish EIA report showing decline in storage. Thursday EIA report is still expected to show a triple digit build above 100 bcf, which is bearish, but a decline in storage is expected to show next week, as consumption is rising. Fundamentals are improving, based on June hot weather and economy reopening by 3rd week of June. This week could be a turning point for natural gas. A longer-term bearish factor for natural gas is a potential increase in oil production. As crude oil prices are moving higher, shale producers may ramp up their production, which in turn may lead to another cycle of oversupply for both commodities. In general, NG prices are expected to go higher from here, reaching toward $2.5 level by year end (based on forward curve), which is 40% lower than prior year, as high supply may keep a lid on the rally. However, if we are going to get extreme heat this summer, $2.5 price level may be reached sooner, possibly moving into a month of August.
NYMEX:NGN2020
by tradexchart
Closed Zion Oil & Gas Today! 43% Gain! (ZN)This penny stock we've had april 1st and looking at a juicy 43% Gain!!!! 🥳🥳🥳🥳 Now we have called over 500% in gains this year with cryptocurrency and stocks in just the last couple of months! I can't make this stuff up! It is all time stamped on my feed. 💰 So why did we take profit on this one today? I took a more aggressive approach as the 3day is starting to compress on my candles and the top 2 ema dots indicator is firing red. I know some of you on my page were liking the setup when I called it. Congratulations of you ran with it. 🥳 Jump the gun a little bit but shoot, I'll take those gains and secure the bag! 💰💰💰💰💰💰💰 Its literally as easy as that with our system! Line them up and ride thr green and cut the red! 🥇MLT | TRADE LIKE A PRO!!!!!!!!
Z
by UnknownUnicorn2319099
NG: Natural Gas retracing into Fib levels, looking for supportNatural Gas NG July futures contract gapped up to $1.93, but quickly retraced to $1.915 level, which is 50% Fib level of its recent run. Prices are going lower into Thursday EIA report, as SP Global Platt reported decline in demand. Fib levels that may serve as support: $1.195 - 0.5; $1.900 - 0.382; $1.881 - 0.236; $1.85 - 0. Currently stabilizing at $1.90. Both MACD and RSI charts are pointing toward lower prices. Investors seem to be sensitive to low demand. We have a gap underneath at $1.76 level and major support at $1.70. Deep retracement into those levels is unlikely at this time.
NYMEX:NGN2020Short
by tradexchart
NG: Natural Gas futures gapped up switching to July contractNG: Natural Gas futures NG switched to July contract on May 26 at 18 p.m. gapping up to $1.93. Based on 4 Hr chart, resistance of $2.0 has not been reached yet indicating potential to go higher. MACD crossed pointing toward higher prices as well. RSI is at 60, which has been the level that capped the most recent rally at $2.0 (May 18 -22). Chande momentum is forming a "megaphone" pattern indicating some potential to go higher in the near-term. UGAZ: Traded flat at $17.30 during NG gap up to $1.93. If $1.93 NG price is sustained overnight, expecting a gap up on the open for UGAZ, possibly up to $19-20 level.
NYMEX:NGN2020
by tradexchart
$UGAZ: Natural Gas NG needs to break through $1.8 to go higherNatural Gas NG has moved higher in Tuesday trading session. Short-term resistance is seen at $1.8, support at $1.76. UGAZ trading between $15.70 and $17.70, with $16.65 being important level to stay above. NG needs to break through $1.8 to challenge its next resistance level at $2.0. With fundamentals turning bullish, it is a possible target. $UGAZ: next upside targets remain $20 and $23 levels, even if a pull back. Technicals: currently overbought on 30 min, 1 Hr time frames. 4 Hr chart is also near recent resistance levels, but may consolidate there in the near-term.
UShort
by tradexchart