Natural Gas Goes Kaboom!Profits have been secured I the Natural gas trade. That being said I still think Nat gas equities can push higher.
On the UNG chart we just saw the 20 day MA & 50 Day MA bullishly crossover each other.
Last time this happened Nat gas had a 4-5 day parabolic move.
The bulls must be careful to not push this commodity up too quickly because it makes the pattern less likely to have a continued breakout.
We are still putting in Lower weekly highs, so the next test of the most recent pivot high is going to be crucial.
If the bulls can trigger the weekly inverse head and shoulder pattern there's going to be a great long continuation opportunity. Until we break the pivot high & create a higher high traders must use caution now that we've had a large move occur.
AR, EQT, CPK, LNG are all set to push higher if Nat gas holds these gains.
KOLD
Natural Gas: Weak Day / Strong WeekNatural gas had a bit of profit taking today and you can't blame the bulls for trimming especially since we did the same.
The Daily chart now needs a couple days of consolidation before another sustainable push.
The weekly chart recaptured the 50 Weekly MA...very good near term sign.
This can now be used as a support level to trade against for very tight stoploss swing traders.
As long as we remain above the breakout neckline we should be likely heading to retest 2.75 & $2.90
Levels below can cause nat gas to fail and fall substantially. Alway remembers the Weekly trend still has Lower highs in place.
Natural Gas waking up? Nat gas showed some poise today.
Holding green in a red market where most commodities saw negative price action.
This is impressive to see because Nat gas has a long historical trend of diverging from many commodities.
The price action today also saw a red to green reversal further emphasizing the positive potential trend shift.
Nat gas stocks were discounted today despite the stronger price action in the commodity.
We remain bullish and long UNG, our call positions in the money.
Natural Gas: are bulls capitulating? The bulls have made 9 attempts at breaking out. All attempts have failed which has led us to this sharp decline.
Nat gas is holding the 20 day MA but it does look somewhat vulnerable to going lower.
The death cross is getting closer and closer as we approach the 50 MA & 200 MA downtrending intersection.
Our members stopped out of the second half of UNG in profits
I am now hoping and waiting for a sub $2 pierce retest. we shall see if we get it.
Natural gas is the downtrend resuming? Nat gas still fits all the criteria for a large downtrend.
Lower highs & Lower lows are still in place on the weekly timeframe.
This obviously swings probabilities in favour of lower price.
However historically were still at some oversold levels.
Just because this asset is oversold honest mean it can't go lower.
Im watching the daily 50MA & 200MA closely...do we get the death cross formation to occur again?
Usually this signal provides a near term bounce but medium term decline.
Natural Gas: Do or Die!We secured half of our profits yesterday, however I still think we have a very good chance of higher price.
Nat gas needs to make a decision by getting above this key Covid trend line.
We are observing another "death cross" formation developing. If price action keeps rejecting the daily 200MA we may go lower.
Today inventories came out: consensus was 42B actual -6B
This was a dramatic forecast miss & supports higher price / more demand.
If Nat gas can get above this key covid trend line, we are well on our way to $3+
Natural Gas...bullish turnaround!Nat gas has carved out a nice potential base to move higher.
We have seen a failed breakdown whcih usualkly indicates a bullish reversal.
They say the biggest moves come from failed patterns an it certainly looks like a failed bearish trendline break.
If this is the case, Nat gas has a nice 15-20% upside before things get really interesting.
We may be witnessing a weekly inverse head & shouldrs pattern developing.
Time will tell but we are long.
Natural Gas...New All time lows? Natural gas has seen a failed breakout on the daily chart. After this failed breakout occured its been weeks of relentless sell side pressure.
We have lost key weekly and daily supports, which doesn't help the bullish case.
There is 1 small positive on the daily chart: a positive RSI bullish divergence.
Understanding how this commodity works, one should be prepared for a downside case of $1.60. Its not a guarantee but a possibility.
The Nat gas resource stocks are mixed and showing sings of volume accumulation.
I'm watching the $1.95 Gap fill on Nat Gas very closely. If the bulls defend that area we could rally quickly.
Keep your eye om the "Death Cross" signal, usually a buy signal for a short term bounce.
Natural Gas: Will the bulls ever come back? Another sell side day for nat gas...what else is new?
back to the same technical support trend line for Nat gas. technically this is support. If this trend line holds we will see an epic bounce IMO.
If we break this are we could be testing $1.90.
I believe that this is still a great risk to reward to accumulate for the long term, while understanding there could still be another 20% down if we break this level...so HODL accordingly.
Natural gas...time to buy? Natural gas just keeps bleeding lower.
Despite the oversold intra day condition this commodity is finding no support.
Natural gas equities are mixed right now, but are definitely showing some signs of accumulation.
We think the next 2 support zones on Nat gas if we lose this critical area are $2.21 & $2.00
Beware Nat gas tends to overshoot.
This trendline we are holding right now connects through major lows going back to 2020.
Natural Gas Bleeding LowerNatural gas has seen negative price action since we got the golden cross.
The 50 & 200 moving average is touted as a bullish signal but often sold into in the near term.
This sell off in Nat gas is going quick and deep.
The problem with that is the sector is leveraged with triples & doubles.
If we complete the measured move down, we should see a bit lower price.
Intra day I would not be surprised for a sharp dead cat bounce.
Natural Gas & Trading Indicator!Nat gas closed the week negative.
We have now had 2 consecutive weeks of sell side pressure.
Next week we will get the golden cross on the daily chart.
Typically this is a medium to long term signal.
Using the prior day high and low signal is an extremely useful tool for traders to identify support and resistance.
Natural Gas - Time to buy? Natural Gas is going through some much needed consolidation.
Holding above the 50 & 200 MA, a golden cross is setting up.
Typically golden cross signals see sellers in the near term before medium and ling term buyers step in.
Nat gas equities have been struggling lately and appear to be needing to go a touch lower until they are ready for a larger move.
Our members just took 21% win on our AMEX:KOLD short.
Natural Gas, Bitcoin & QQQ : Whats the next trade?Natural GAs has had a nice pullback over the last few days.
Are we going to see this correction go deeper than the last pullback?
Potentially we are observing a failed breakout on the daily chart.
Bitcoin: has triggered bearish formations on the hourly chart.
Sitting right at intermediate support, BTC needs to hold the 50MA or run the risk of flushing lower.
BTC is still chopping in a sideways range that favors lower price action until we break the neckline.
QQQ / Nasdaq : In the strongest uptrend. This looks likely to push a bit higher but its nearing major resistance in a very extended move.
Natural Gas: The Golden OpportunityNatural gas has seen a nice rejection off of 3.19.
A double top on nat gas is observed, does this mean we go lower?
In the near term perhaps some more consolidation is needed but the trend is setting up for the infamous golden cross.
If we get a bullish cross of the 50MA & 200MA this is a likely long term trend signal.
This signals higher probability of a bullish uptrend.
As we approach the elections, a potential trump win could influence the price.
Natural Gas: A Mega Move is BrewingNatural Gas has been a very volatile asset in recent sessions.
The price action in the 4 hour chart has triggered a bullish breakout.
The next bullish inverse head and shoulders pattern on the daily chart is starting to take shape. This pattern has not yet triggered.
If we see a breakout of this pattern there is about $1.50 of upside from the neckline.
Resource stocks are still holding up very well, granted so is the market.
A very similar structure is playing out on the weekly chart, regarding the 50 Weekly MA
If we see price trade in congruency we should see more upside this week and then potentially we may see some sellers the folling week
Natural Gas: Wild price action!Is natural gas a buy at these levels?
Nat gas is currently digesting its recent rally.
You have to expect the bulls to make another push higher at some point but with todays reversal the bulls may have to wait a bit longer.
Resource stocks took another hit today but still holding near the highs.
Nat gas is still holding above the daily 200 MA.
Price action is oscillating between the .236 Fib & .382 Fib
Natural Gas falling sharply! Profits Secured! Natural Gas has lost over 15% of the recent rally.
Pulling back today with the market, this commodity is now coming into an area for potential dip buyers.
Will the 200 MA hold firm?
Nat gas equities are holding relative strength despite the sell side pressure.
2 key trend channels of support are observed.
Profits secured on KOLD
Natural Gas: Short Squeezing!Natural gas continues to test mean reversion strategies.
This commodity is continuing to burn the shorts.
For a couple weeks now, Nat Gas has been trading at the upper 2.5 deviation band.
This is an extreme overbought signal that often results in profit taking.
Natural Gas Daily RSI is now diverging from price at overbought levels.
XNGUSD SPOT NATURAL GAS Slowly getting ready to reverse LONGXNGUSD is here on a 120 minute chart. I can see that it is trying to turn the corner and head up.
The RSI is turning up in bullish divergence. While price is below its moving averages, the SMA20
is soon to be in reach. The anchored VWAP lines are approaching a slope decreasing to zero,
while price is getting closer to the mean VWAP as those lines go flat. Overall, volumes are
on the rise while price is sideways, so there is bullish divergence in the volume trend.
Overall, I see XNGUSD setting up for an uptrend. It could be a big one. Time to buckle up before
turning the key. there may be some horsepower involved.