Get started

Mcxnaturalgas

Elliott Waves: Natural Gas case study Overview: Since the significant bottom in June 2020, Natural Gas embarked on a compelling journey, forming a fresh impulse that concluded around the highs of August 2022 as Wave I in the Cycle Degree. The subsequent phase witnessed a corrective move, labeled as Wave II on the weekly timeframe, comprising three subdivisions: ((A)), ((B)), and ((C)). The current focus is on the ongoing Wave ((C)) on the Daily timeframe, expected to unfold in five subdivisions: (1), (2), (3), (4), and (5). Within this framework, Wave (1) to (4) are complete, and attention now turns to the unfolding of Wave (5) on the Four-Hourly timeframe. Current Structure: On the Four-Hourly timeframe, Natural Gas is in the process of forming Wave (5), consisting of Wave 1, 2, and the ongoing development of Wave 3. The details of Wave 3 are further observed on the Hourly timeframe as finished wave ((i)) & ((ii)) and now possibly we are unfolding Wave ((iii)) of 3 of (5) of ((C)) of II. Elliott Wave Principles: Corrective Structure: Wave II is corrective, manifesting as a complex correction with three subdivisions, labeled ((A)), ((B)), and ((C)). Impulse Formation: The primary upward movement from June 2020 to August 2022 represents an impulse, characterized by a sequence of five waves. Subdivision Details: Each wave and subdivision unfolds according to Elliott Wave principles, maintaining the structural integrity of the overall pattern. Learning Points: Analyzing Market Cycles: Elliott Wave Analysis serves as a valuable tool for understanding the cyclical nature of markets, providing insights into the psychology of both buyers and sellers. Trend Anticipation: Corrective waves within the Elliott Wave framework offer a strategic opportunity to foresee potential trends—whether they signify a resumption or reversal of the existing trend. Elliott Wave Analysis is a tool to decipher market cycles, offering insights into the psychological dynamics of buyers and sellers. Corrective waves provide an opportunity to anticipate trend resumption or reversal. The principle of non-overlapping waves helps identify the structure of the market move. Validation and Risk Management: The integrity of this Elliott Wave structure is contingent on Wave II not surpassing the low of Wave I, identified at $1.440. A breach of this level would invalidate the current wave count. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NYMEX:NG1!Education
by RK_Chaarts
20
At present, crude oil encounters obstacles, and the chance of de Courage is that you see a lot of sugar in one place, and you can hold back. Courage is your own persistence and look at your favorite books. Courage is to do more homework and write each word. Courage is when you are thirsty, let the water be given to others first. Crude oil rose by 77.2 and fell by 78.55 as mentioned yesterday, and the two-way profit was double-killed by long and short. During the day, crude oil reaches the pressure level of 78.6 and then consolidates under pressure. If the shorts want to play, then this position is very critical. The crude oil operation at night is recommended to sell at 78.2, the risk control is 78.65, and the target is 77.30~76.70 Crude oil is bearish for several reasons: 1. Crude oil rushed higher and fell back yesterday to form a high cross star, and this is also where the pressure of the downward trend line lies. 2. The intraday pressure is 78.2-78.65, and the support is 77.30-76.70. MCX:CRUDEOIL1!
TVC:USOILLong
by Crazylambboy
EWT – Is Natural Gas Prepared for a Reversal?In our previous article, we discussed impulsive wave C and its continuation. On 20 January 2023 , Price achieved our all given targets. Click here - ----------------------------------------------------- Timeframe : MCX Natural gas has accomplished the corrective wave B and started falling for impulsive wave C. Price has given a reversal from previous wave C, but it is no conclusive evidence that it has completed wave c. When it comes to confirmation, Traders should watch the level of 313 . If the price breaks out the 313 , it will enter into the parallel channel. Traders can buy for the following targets: 321 – 340 – 366 . Don’t forget prices are moving outside the channel, which is a negative point for traders. Bearish continuation is possible if the price sustains below wave (4). I will update further information soon.
MCX:NATURALGAS1!
by forextidings
2
MCX Natural gas Struggling at Strong SupportOn the chart above, we have plotted three different MAs on the 1-hour chart of MCX Natural gas futures. As you can see, the 62 MA is indicating a downtrend ahead. And 5 MA & 30 MA are crossing each other for a reversal. This reversal can be for 174 to 180 levels. But according to the support & resistance trendline, we may see continue price collapsing. I have also highlighted a support area with green color . Particularly from this point, it's taking a u-turn. For safe traders, short positions can be initiated after 170 levels. Targets: 167.6 - 165 - 162.6 - 160
MCX:NATURALGAS1!
by freestocktips
11
Natural gas consolidation likely to continue.Natural gas (03.12.2014) made high round $4.6 on unexpected cold front in November month while upcoming mild weather forecast forced trader to book profit on higher levels. On fundamental side, mild weather in US expected to continue for coming 2 weeks & will put more pressure on prices. On other hand current inventory level of natural gas is 3432 bcf which is down by 400bcf compare to 5 year average. Inventory forecast for this week is -51 while 5 year average withdrawal is -17. These inventory level might help natural gas prices to hold above current year low. Now natural gas is trading around $3.772 & as we can see on charts, natural gas once again came below the long term descending trendline running from 2013 high of $5.475. Technical picture suggest for more downside move towards previously broken support & then towards 2014 low at $3.611. However the volume associated with this move is quite low & thus this move could be temporary. Mcx natural gas trading at 235.50 mark while i am writing. Mcx natural gas has almost same story , keep falling after putting a temporary high of 281 while falling continue on mild weather forecast. From technical aspect break below support trendline & 61.8% fibonacci retracement suggest for more weakness ahead. Most possibly natural gas can fill the contract gap ( 229-223.5) on charts. It will be very interesting to watch when the gap will be filled & winter will arrive again. Based on above studies, we will prefer to sell natural gas on some rise for mention downside targets in coming trading session. Note - Above technical analysis is not a buy/sell recommendation. Our blog - www.mantracommodity.blogspot.in visit www.mantracommodity.blogspot.in
FX:NGASShort
by mantracommodity
1