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NATURAL GAS

NATGAS 2018.07.27Natty has found a strong bottom at 2.7. An important thing to note about this price is that technicals supported this price as a perfect place to bounce as it served as May's monthly bottom and strong bullish RSI divergence on the daily reflected signs of a strong possible bounce. Anyways, going-forward, regardless of weekend gap (i think we gap down based on last weeks' gap), I expect natty to test ~2.8 (top of purple trend line). Natty continued a complex consolidation here now taking the form of a bearish rising wedge with resistance ~2.8 and would be looking to short here for a possible break-down of this pattern back to 2.78 and then ~2.75. Mid-term, I expect natty to chop sideways until there are significant signs of higher CDDs. Best of luck to you all!
FX:NGAS
by bottom_scalper
2
Natural Gas Ugaz DgazSo this wave count is nearly impossible to make out. But I believe that we are near the top of the beginning diagonal and should make a brief correction soon. I tried to get a measurement of the beginning of the wedge for a measured move down. Interestingly it is nearly perfect with a .618% Fib assuming I lined up with the correct bottom. The volume is nearly gone so that is another reason why I think we could get a brief drop before the big push up. So maybe sometime tomorrow I might sell ugaz and wait to buy the dip. GL
OANDA:NATGASUSD
by SalN
NatGas - New possibilitiesI would like to start with the indicators here. First of all the Slow Stochastic. Every time in the last 3 years when the StowStoch printed a flat bottom at the oversold levels it was followed by a strong rally in NatGas prices. Today the situation is the same : we have a flat bottom again. MACD is also crossing over after the extreme oversold levels and RSI already left the extremes. Last year's consolidation ruined the cycle count a bit. We clearly had an ICL on the 9th Nov 2016 but the next daily cycle dropped too much : on the 22th Feb 2017 we almost dropped to the ICL level at 2.387. It's still not crystal clear : was the 2017.02.22 low a DCL or an ICL of a very short cycle? This way or the other it was an important sign that NatGas was not ready to print an ultimate rally : we had a frustrating consolidation in 2017. The consolidations are pretty hard to trade if you are waiting for a strong trending rally. Every pattern is evolving into a new one. First we had a triangle, the triangle evolved into a range , the range broke down and later evolved into declining channel etc etc. Based on the indicators and price action I think Natgas is ready to rally again. I'm not sure it will be able to break out of the consolidation though... 20th Dec 2017 most probably was an ICL. If that is the case we mustn't drop below that level for a few weeks/months. The perfect scenario would have been to touch the trendline without taking out the lows of December 2017. I was waiting for this but it never happened. So we will enter here where indicators are clearly giving the reversal signs... My suggestion is to enter 15-20% margin impact here . If we tag the trendline in the following few days you can double the position. ***
OANDA:NATGASUSDLong
by chartwatchers
16
Natural Gas reversal ahead of us? or continue lower lows? I have been keeping an eye on natural gas for that past week waiting for it to reach these support levels, the downtrend has been really strong and so far buyers have been weak. I will be going long but monitoring it carefully as the demand has not kicked in yet. If it breaks down we can see some lows we have not seen in a while anywhere around 2.15-30. Take profits if we do see some buyers are around 2.68-2.72 for the short term, given the strong trend down we will see some more sellers around that area.
NLong
by atovar10
3
NATGAS Bullish Once MoreNATGAS has has both a strong local and general double bottom and is looking to retest 3.0-3.1 and higher before it sees 2.5 again. Strong gap up over weekend was very predictable as is evidenced from my idea last week. With both strong fundamentals (bullish report) and strong technicals (respected double bottoms) shorts would be wise to wait and watch for a while. For those who are getting in late, UGAZ should still be a good buy come market open on Tuesday with a safe selling target of 3.05 (in the NATGAS index) or possibly even higher should we break into the fib channel at 3.1 or so. Stay safe and good luck! EDIT: Attached is an image of the local double bottom in case you can't see it because of my text bubble.
OANDA:NATGASUSDLong
by Bikko_Koiwai