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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
Neo Gas Weekly Chart Analysis With 385%+About Gas Gas is a token created on the NEO blockchain platform with the primary purpose of being fees for processing transactions on the NEO network. Source: coinmarketcap.com Website: neo.org ----------- GASBTC Weekly (W) by Alan Masters Here we have prices breaking above EMA10 for the first time early February. After the Feb. low, we are now looking at a higher low. Classic retrace and falling wedge visible. Bullish indicators. This will be another winner by looking at the chart. Make sure to have a plan/strategy before you trade. Namaste.
Long
by MasterAnanda
5
$UGAZ: Natural Gas NG Potential for Upside Within ConsolidationNatural Gas June futures contract continues consolidating within a narrow range: $1.68 - $1.76. A potential for a move higher is seen in the near-term. UGAZ: Based on 1 Hr chart pattern and Chande Momentum indicator, an upside move can be expected within May 26 - 27 timeframe; $20 is seen as first upside target, $22-23 level as resistance, while $15.30 is seen as support. A break below could lead to $14 handle. Multiple consecutive green bars observed between May 22 and May 26 on UGAZ chart, are indicative of potential bottoming out. On Balance Volume (OBV) kept moving lower for both UGAZ and NG throughout May, approaching a potential bottom, with RSI momentum turning higher on 4 Hr chart. This could be a technical sign of reversal. However, NG trading range is narrow with main support at $1.60 and main resistance at $2.0. This trading range may continue in the near-term. June contract settles on May 27th, with last position on May 28th. Higher priced July contract continues after that through June 26th (its settlement). Demand is picking up, although gradually, and still under oversupplied conditions. Based on fundamentals, the overall direction of NG futures is expected to go higher from here, with consolidation to continue into early June. NG forward curve as well as seasonal demand are both pointing toward higher prices. A choppy pattern may continue until we get a forecast for a heat wave to kick off high cooling demand season.
UShort
by tradexchart
May 24 Market Update | Technical, Fundamental, NewsDescription: An analysis for the week ahead. Points of Interest: 2860-2900 Gap; 2975-2900 Balance. Technical: Nasdaq and S&P relatively strong. Russell, Dow, and NYSE are strengthening. Monday we gapped and met resistance at a low-volume area. Tuesday’s overnight broke above the high established on 4/29 and later liquidated, closing on the lows. Wednesday’s overnight rejected Tuesday’s spike and attempt to fill the gap. Friday’s overnight, again, failed to fill the gap, establishing a v-bottom at the $2905 area of resting liquidity. Overall, after Monday’s gap, the market didn’t move much. Instead, it balanced between $2975 and $2900. Similar to last week, the market has been coming into balance, digesting information, building value, shaking out weak hands. Aside from remaining in balance, the market could extend directionally, or extend and return to balance quickly. Taking out Friday’s low of $2903.75, targets on the downside include $2870 and $2860. A successful break above $2976.25 has me targeting $3015. Scroll to bottom of document for non-profile charts. Fundamental: Key Events: New-Home Sales; Consumer Confidence; Building Permits; GDP Data; Durable Goods; Initial Claims; Personal Income, Spending; PCE; Advanced Economic Indicators. Next to no inflation for at least 2 to 3 years. bit.ly The requisite for long-term inflation. bit.ly Top buys from money managers include FAANMG, digital payments, e-commerce. bit.ly NASDAQ:FB NASDAQ:AMZN NASDAQ:AAPL NASDAQ:NFLX NASDAQ:GOOGL Bank fraud in commercial mortgage-backed securities puts the entire economy at risk. bit.ly HY bond spreads reflect expectations of declining default rate. bit.ly Debt issuance decreases risk of near-term defaults. bit.ly Barometer for housing demand has increased for 5 straight weeks. bit.ly Impact on state budgets beyond anything seen during the Great Depression. bit.ly Market crash was a liquidity and re-pricing event. Be wary of further structural issues. bit.ly Financial institutions to change habits, reshape business models. bit.ly Italian credit quality deteriorates as Italy realizes financial hit from the virus. bit.ly Chains like Starbucks seek extended rent cuts, hurting landlords. on.wsj.com NASDAQ:SBUX Oil market will go from over-supply to under-supply. reut.rs EIA expects lower natural gas production in 2020. bit.ly Rolls-Royce to cut 9,000 jobs, warns of a prolonged recovery. bbc.in Uber hones in on core rides, delivery as it cuts a quarter of its workforce. reut.rs NYSE:UBER Cisco earnings reveal a challenging outlook, but credit metrics strong. bit.ly NASDAQ:CSCO Exchanges, market makers eye strong Q2 amid increased trading volumes. bit.ly Senior living and nursing home operators eye financial turmoil. bit.ly Mexican auto manufacturing restarts, a positive for credit. bit.ly Job openings report shows true unemployment understated. bit.ly There is no limit to the Fed’s lending capabilities. bit.ly Takeaways from Fed Chair Powell’s ‘60 Minutes’ talk. bit.ly Census survey points to economic suffering across U.S. households. bit.ly Consumer liquidity rises alongside forbearance programs, lower credit card balances. bit.ly Forbearance programs to camouflage weakening bank asset quality. bit.ly Questions about the economy overtake searches regarding coronavirus pandemic. bit.ly U.S. leveraged loan defaults highest since 2014; retail defaults hit record. bit.ly Coronavirus to accelerate ASEAN banks’ digital transformation. bit.ly Cities will force a return to the pre-pandemic status quo. reut.rs Arizona attracts record venture dollars. bit.ly The U.S. would react “very strongly” if Beijing went ahead with Hong Kong security law. reut.rs Amazon to hire 50K temp workers in India as demand rises. reut.rs Deere & Co tops quarterly results, signals recovery as farmers benefit from relief. reut.rs NYSE:DE GM delays resumption of second shift at truck plants. reut.rs NYSE:GM U.S. plans massive vaccine testing effort to meet year-end deadline. reut.rs Sentiment: 29.0% Bullish, 26.0% Neutral, 45.0% Bearish as of 5/24/2020. bit.ly Gamma Exposure: (Trending Lower) 1,639,866,652 as of 5/22/2020. bit.ly Dark Pool Index: (Trending Higher) 51.2% as of 5/22/2020. bit.ly Product Analysis: ES: AMEX:SPY TVC:SPX NQ: NASDAQ:QQQ TVC:NDX RTY: AMEX:IWM TVC:RUT YM: AMEX:DIA TVC:DJI NYA: TVC:NYA GC: AMEX:GLD CL: AMEX:USO AMEX:DBO AMEX:USL NG: AMEX:UNG 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
Bombed out Natural Gas Play1. Compare the chart to the Wall Street Cheat Sheet and looks like we're in the Depression phase. Quiet on Twitter and bitter sentiment on LSE/ADVFN, nice contrarian signals and not a crowded trade. 2. POC at 1.4p. Sharp capitulation from January to Mid-March where RSI hit 18 and has recovered slightly. 3. Upcoming catalysts: OGA 32nd Offshore Licensing results expected by end of June 2020. Look at JOG SP reaction from last July. Selene drilling decision and Pensacola well investment decision could drop this year or early next year (both partnered with Shell). Dewar farm-out pending but likely to be delayed for the foreseeable given COVID. 4. ATOW valued at £10.2m, Allenby estimate £12m net cash by end of 2020. Fundraise completed last year, expected to see them through to end of 2021. 5. Broker targets: always take with a pinch of salt, but ultimately these get bandied about by rampers --Allenby re-confirmed in January 2020 a target of 8.3p and 16.7p (based on success for Selene, Pensacola and Dewar (assuming a 50% farm-out of Dewar). 6. "Read-across": ECO investors will know that the SP does react to success in neighbouring acreages (e.g. Guyana) and this could happen re Pensacola given the Darach Central-1 discovery in late 2019.
CLong
by AttilaTheKiller
$UGAZ: Natural Gas NG Bottoming Pattern; Unfilled Gap. Potential bottoming patterns are seen on multiple time frames of natural gas contracts. June Natural Gas contract and Chande Momentum charts show higher lows. NG: However, NG June contract chart is pointing lower due to fundamental factors - economic shutdown and overall reduced demand. If prices hold support at $1.70 on Friday into closing, that would be an encouraging sign for the next week. Otherwise, a correction is possible. From technical standpoint, there is an unfilled gap from Sunday May 17th, up from $1.63 to $1.70 on the open. This gap maybe getting filled in the near-term. UGAZ: Corresponding gap up from May 17th has been filled. However, if NG prices are going lower, possibly toward $1.62-$1.60 support, UGAZ may fall temporarily into $12-$14 range. Otherwise, $15-$16 seems to serve as near-term support.
UShort
by tradexchart
$UGAZ: Natural Gas NG is Waiting for June HeatNatural gas futures contracts NG finished the day lower after EIA inventory report showed a less than expected build of 81 bcf vs 98 bcf predicted. Regardless of a substantially lower build, NG prices dropped 3.3% on Thursday. Short-term momentum turned negative, while medium term momentum is neutral pointing toward consolidation and possibly lower prices. The chart is slightly below 50% retracement of its recent move up, between $1.60 and $1.89. It is the middle of the range. A move in either direction is possible from here. Near-term resistance is seen at $1.75, level of prior support. Major support levels remain $1.70 and $1.60. UGAZ is trading within a range, between $15 and $16, as long as NG holds support at $1.70. Lower prices are possible; more consolidation seems likely before we go higher. The weather is expected to stay within a comfortable range between 60 and 80 degrees, with some heat up to 90 degrees in the Southwest. However, May is considered a shoulder month, when little additional demand is generated at these temperatures. The economy is reopening slowly, with demand growth expected to improve in June, when we switch to trading July contract.
U
by tradexchart