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Natural Gas / NG - Act II: A Number That Starts With "2"My previous call on natural gas made Sept. 19 has come to fruition, achieving all three targets, and in a shorter than expected period of time: Natural Gas / NG - It's Officially a Bear. Now, Hold My Beer The question I've asked myself for the last few days is simply: Now that the June lows have been taken out, is it time for a reversal? And frankly, I don't believe a (sustained) reversal is imminent, mostly because I really do believe $18 NG1 is incoming and these market makers, who are total maniacs, will not make it so easy for one to go long. Things to keep in mind when we're so close to the end of the month and major lows have been achieved: 1. Look out for bounces as monthly candle wicks are painted 2. Look out for monthly candle highs to be painted in the first days/weeks of November 3. Big volume gaps between $6.3 and $5. "It's only 23%!" 4. Big bounce from $4.9 to $5.3 June lows are likely Trendlines are astrology, for real. Stop believing in them. No banks and no trading floors at Shell, Exxon, Aramco, Gazprom, are sitting there thinking of what to do with billions of dollars of inventory and drawing a diagonal line between two lows and thinking to themselves about such and such "support." That is truly absurd. Yet, you should pay attention to these things because, to the contrary, they're used to fleece dumb money. The markets revolve around fleecing dumb money, and there are entire funds with billions of dollars of dumb money. To put this trendline into perspective, although it looks reasonable on the 4H, look how absurd this is on the monthly: That being said, it's also reasonable on the 1W and 1D charts: & We are notably at that point, below the psychological $5 level and more or less at the trendline, and at the end of the month. When June made its Armageddon move downwards it came right as the monthly contract closed, so I personally do not expect a repeat of the same situation. I think a bounce to $5.3 is more or less inevitable, and I suspect rather than break through it and act like Silver/Gold/WTI has retracing to newer highs, it will bounce off the low and manufacture the kind of "resistance" found in technical analysis books to encourage late shorts. Early November may actually show us a more bullish impulse back to $6, but keep in mind that to get back to that mid-October weekly gap would more or less fill the entire October monthly bar with a November wick, so that gap is likely a breakaway gap that will stay in place for some time. Anyways, what I expect to see is after some retrace to catch late shorts and squeeze and break them, as well as to exploit early bulls, we will see a retrace, one that won't last long and will probably be quickly accompanied by another breakaway gap. I believe that natural gas will, in a very quick period of time, actually print a number as low as $2.9, a move that will be accompanied by WTI also setting new lows and approaching $50, as I noted in a recent call: WTI Crude Oil / CL1 - Accumulation Before Global Conflict Europe has already filled their coffers with $9-10 US LNG delivered via boat and until they need to refill the barrels in a few months after Freeport is re-opened, prices should be suppressed as producers and funds get net long on energy. The reason is, problems between NATO and Russia and problems between the World and the Chinese Communist Party under the new found "Emperor" Xi and his delusional miscalculation to stay attached to Marxist-Leninism and communism will lead the Party to either attack Russia alongside NATO or to pinch both Russia and NATO with an assault on Taiwan. Energy will be _extremely_ expensive everywhere once the global conflict breaks out. But as with all such moves, first come lows that are more uncomfortable than early bulls and scared bears are comfortable with. 2023 will not be a pleasant year, so make sure you do your utmost to have a proper Christmas with your family and act like a good person. Whoever you are who is reading this, what I want to tell you is this: If you want a future, you need to start by first rejecting communist culture, especially all things Marxist-Leninism. Next, you need to reject the Chinese Communist Party, for it is guilty of the crime of live organ harvesting genocide against Falun Gong and will be purged by history. Third, you need to start to emphasize virtue and improve your conduct and morality on a foundation of traditional human culture. I am not talking about dogma, and I am not talking about religion. Both of those are totally useless. I am talking about a rational understanding of what it means to be "a human being," the things that have allowed this civilization and this cycle of history to persist over the last 5,000 years, founded on the back of the Chinese dynasties. There are so many lessons in history. I hope that whoever has the fortune to encounter my words can walk out of the catastrophe. But if your thoughts are unrighteous, then if you can't, you can't. Regrets, however, will be no help at all. It's just like poker: you have to figure it out and have your bets placed before the cards are turned face up. Once the truth is revealed, everything is fixed.
NYMEX:NG1!
by LordWrymouth
14
NATURAL GAS Astounding multi-year Cycles showing sell's not overThis is not the first time we look into Natural Gas (NG1!) and its long-term patterns. We have coined its Multi-year Cycles Theory in the past and it is time to extend on it a little on the 1W time-frame. Typically investors ask us for 1D analysis such as the following we published 2 months ago (November 24 2022) and helped us identify the conditions that would fulfil the long-term bearish reversal we expected: As you see NG delivered the expected drop since it closed below its 1W MA100 and even hit and closed below the 1W MA200 (orange trend-line). Based on this multi-decade blueprint, this is a strong bearish continuation signal. As the chart shows, NG technically makes 4 year Cycles (bottom-to-bottom, top-to-top), which failed only one time in 30 years. Based on this, there is still significant time and range for the price to drop. The first stop is the (grey) High Volatility Zone, where the price typically trades for a longer-than-usual period of time. We need to keep an eye on the RSI on the 1M time-frame and its Higher Lows trend-line. If its holds, expect a bounce, in a similar fashion as the Lower Highs from May 2009 to February 2016. If they break, we expect first the 1.600 level to be tested as a Support and potentially under conditions (which we will analyze extensively if this time comes), the prices Lower Lows trend-line. Keep in mind that the RSI is always helpful and in recent months in particular, as its Bearish Divergence on Lower Highs (against the price's Higher Highs) from September 2021 to August 2022 projected the peak. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!Short
by TradingShot
4
NATURAL GAS BEARISH OUTLOOKThe cold weather in US had done little to support a price rise of the Natural Gas, while the consumption was lower than predicted. The price of the gas had broken its support at $5.3 and might be heading further down, testing prices of 4.25 in the next couple of days. In the opposite scenario the price might try to reach levels of $6.07 RSI and MACD both are supporting the bearish movement with MACD histogram below 0 line and RSI below the 50 neutral line. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NShort
by legacyFXofficial
NGAS BULLISH OUTLOOKNGAS prices started rising on Monday after a cold wave engulfed the European continent, testing its ability to coupe with the cold weather without its main natural gas supplier Russia. The instrument broke the resistance levels of the triangle chart pattern entering into a bullish movement. RSI indicator is above the 50 neutral line and MACD histogram is above 0, both confirming the potential bullish movement. If the trend continues the price might try to test levels of 7.649 In the opposite scenario, the price might try its previous support of 6.554 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
BLACKBULL:NGAS.FLong
by legacyFXofficial
NG buying opportunity or Selling???I am not a professional trader. But noticed a few points thought of sharing. Mostly I am bullish with NG. Especially from 2021 each drop I noticed as a buying opportunity. However, thought of alerting those who are bullish like me to be more careful at this point. Bulls to be careful for getting confirmation before any buy due to the below reasons. 1. Even On daily timeframe, a Head and Shoulder pattern is being formed 2. broken daily 50ma and 100ma 3.Broken 200mas on 1 hour, 2 hour, 4 hours and might be going towards daily 200ma - if hit there of course a good place to buy. 4. my AI code also asks to sell from 2nd Sept. Good Luck
NYMEX:NG1!
by rubyps
NATURAL GAS Weekly ForecastNATURAL GAS Technical Analysis Chart Update Time Frame - Daily According to Long Time Frame #LTF we have BULLISH CHANNEL Pattern and it is Rejecting from the Upper Trend Line #UTL it can Follow Sell Trend because it Rejected the Bearish Trend with Strong Bearish Price Action We have got ELLIOT WAVES as well in Long Time Frame #LTF it has Completed its Impulsive waves " 12345 " now it will Make Corrective waves " ABC " and Follow Sell Trend In Shorter Time Frame #STF we have Rising Wedge we need to wait for the breakout of the Lower Trend Line #LTL and Retest then we can Enter in Sell We have Strong Selling Divergence according to #RSI in Daily Time Frame #DTF
N
by ForexDetective
1
BOIL Leverage 3X Natural Gas ETF Cup and Handle LONG AMEX:BOIL BOIL is showing a cup and handle pattern at present lending increased probability of a bullish continuation that could yield a 50% price rise over the 45-day width of the cup. Macro and fundamental factors support ongoing natural gas price escalations including the supply issues in Europe, the heat wave from climate change causing and so on. The cup and handle on a relatively long time frame increases both its reliability and the time period for which the pattern to play out.
BLong
by AwesomeAvani
NATURAL GAS - BAT PATTERN IN MAKINGNATURAL GAS is printing a bullish bat pattern. It is still in early stage as point C has defined its place. Pattern will complete at point D which is projected at 4. The price has already been rejected at the key resistance on the daily chart, and RSI is headed downwards. There has also been a continuous decrease in volume from the first time the price tested the key resistance. This may confirm that the price doesn’t have enough momentum to break through the resistance and is now set for a correction. There are a lot of contributing factors pointing to a bearish scenario for natural gas. Although the price might be bearish, watch out for relief pumps, especially on the support levels. What do you think of the idea?
FXOPEN:XNGUSDShort
by TradeTrio
1