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Natgas

E-cutieAll year EQT, an unloved natural gas producer has been a swing trader's paradise. I've harvested so many gains from these E-cutie trees I thought I'd make a thread just for it and post trading updates. The macro technical picture is clear. Years of being battered by shorts ended with capitulation in 2020, followed by a swift rebound. Fundamentals are tightening. According to analysts, $25 is fair price for $2.50 NG price. Goldman Sachs has a $23ish target. Price action is showing signs of bottoming. It's lining up but this is much more profitable short term swings. Currently, price is building a base at previous long term support around $18. More downside is certainly a possibility given that NG prices look overvalued. But, EQT is in a channel and fundamentally undervalued. Investors might front run this sector as demand picks up in later in the year, in which EQT will likely be closer to $25. s3.tradingview.com Long EQT +200 @ 18.10
NYSE:EQTLong
by trade-God
NatGas: Take-off 🛫The price of NatGas has gained significantly again since Friday and could thereby move further away from the support at $2.48. Thus, we assume that it has already left the white wave (2) and is ready for high flights. For the white wave (3), it must rise significantly above the resistance at $2.75. After the completion of this wave, we expect a small correction and then another significant rise in the form of the white wave 5. Hence, we see a lot of movement on the upside at the moment. However, it should be noted that there is still an alternative scenario with a probability of 28%, which occurs if the price now falls contrary to our expectations. Then it would first have to fall below the support at $2.48.
NYMEX:NG1!Long
by MarketIntel
#NatGas Update #OOTTThe chart is non-tradable (though I did enter some cheeky shorts). Natgas is tracing out something really intricate, as is its typical behaviour. I suspect (and this is only specualation at this point) that the market is undergoing a compex [ w] [ x] [ y] correction as wave b where [ x] is a flat with an expanding diagonal in wave (C). Then there has to be either another flat or a triangle in wave [ Y] to complete wave b and proceed to a simple impulse c. That is extremely speculative at this moment, and hence not tradable from an ElliottWave perspective. The key points are - I believe the correction within the correction has not yet been completed. - Once wave b is completed, there may be a nice quick short setup followed by medium-term long opportunity This is not advise.
OANDA:NATGASUSD
by Fomenka
NATURAL GAS Buy lower, sell the break-outLast time we looked into Natural Gas (NG) we called for a buy entry (see chart below) right after the contact at the bottom (Higher Lows trend-line) of the Bullish Megaphone: The 2.550 target has been hit but the rise didn't stop there, breaking even above the former 2.690 Resistance and making a Higher High in the process. The price is right now above the 1D MA50 (blue trend-line) but in terms of Risk/ Reward neither a favorable buy or a sell. We are willing to buy at 2.400 with a tight stop just below the Megaphone's Higher Lows trend-line and target 2.800 (below Resistance 1). If a 1D candle closes below the bottom (Higher Lows trend-line) of the pattern, we will sell and target the 1.950 Support. The 1D RSI is trading inside a Channel Up pattern. If broken, it will be a first confirmation of a bearish break-out signal. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!
by TradingShot
1
NatGas: Come on! 👏NatGas needs to show a bit more motivation to complete wave 3 in green, as we expect the corresponding top near the upper end of the white zone between $1.88 and $3.43. After the price has also dealt with the short counter movement of wave 4 in green, it should finish the green five part upwards movement, rising from the white zone toward the top of wave iv in pink. As soon as this is placed, we reckon with a significant downwards movement, which should lead to the low of wave 2 in green before the ascent can start anew. However, there is a 40% chance that NatGas could leave the white zone on the lower side prematurely, thus developing wave alt.2 in green earlier already.
NYMEX:NG1!
by MarketIntel
Natural Gas - The Girl Who Hopes You Remember HerSince the end of February, and more accurately mid-March, the volatility on Natural Gas has all but disappeared. This is a good thing if you're bullish, because it's both consolidation and indicates accumulation. It's also a good thing from a sentiment/narrative perspective because everyone has all but forgotten trying to gamble on BOIL. Moreover, it's strange for Natural Gas to trade so cheaply in light of the situation with the conflict between NATO and Vladimir Putin and how it impacts both China and Xi Jinping and Europe. I've said in many of my previous natural gas calls that $10 wasn't the top. And if that supposition is true, the fact that we're trading at such an enormous discount for so long is really notable. Just look how big the discount is on the monthly: One of the core tenants of 2023's thus far price action being a likely bottom is that Natty has swept out the $2 mark twice, the last time in April. Since, it's then made a series of higher lows and now looks certain to make higher highs. Moreover, on the weekly we see any red bars are continually traded through to the upside by the MM. All of this comes while the algorithm has been playing around the December of 2020 monthly pivot. The fact that $2 has been protected so strictly and that the high of the year was set at only $3, which it touched for only a day, a Friday, to start March tells us that the target is more likely to be up than it is to be down. It is very hard for me to tell you if Natty is going to do $3.2, $3.5, $4, or $4.5. It may just double top at $3 and then go back to $1.8. What I can say is that getting over $4 ought to have a high degree of resistance. However, if the algs push it through, it's going to take off and take off in a hurry. One thing that is true is that you really should not be bearish on energy. I also believe that the Nasdaq in specific is about to correct so violently that it's going to set a new low. We may be in a scenario right now where we see something like: Equities correct USD up Energy up Metals up 10Y yield up VIX up Instead of the usual everything down and everything up all at once shenanigans. The world is running out of energy. Oil is not a bear market. Worldwide and US production peaked in 2018 and hasn't come back. A lot of the "oil" that is included in daily production numbers isn't actually crude oil but is "natural gas liquids" and other lesser substances. In a climate where mankind is using more and more electricity and temperatures are getting hotter and hotter, there is no reason to believe that natural gas should stay this cheap. How hot will July, August, and September be in North America? Natural gas _is_ electricity. It's also plastics. It's also what the places that get winter use to fuel their furnaces to stay alive. Are you really expecting $1.50?
NYMEX:NG1!Long
by LordWrymouth
25
Using volatility for income trades - UNG 59% ivNatural Gas and other commodities offer alternatives to main show which is the stock market indices. The spx sp500 is currently offering very low volatility premiums because its been trending higher in smooth way, and put sellers have crushed premium there. UNG etf offers an alternative potential opportunity for me since premium is high enough and its already had a nasty sell off for months since fall of 2022. With headlines of hot summers and potential higher energy use, Im comfortable nibbling at premium trades in UNG.
AMEX:UNGLong
by optionfarmers
1