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KOLD drops with Natural Gas RisesOn the daily chart KOLD has been testing resistance since February with a single touch in February , a head and shoulders in April and a double top in early May. It is now retracing due to the rise in natural gas prices in the past 10 days. A support line from a prior retracement in early March is drawn at 41.45. This analysis is further supported by the zero-lag MACD oscillator. I will take a trade of put options but short selling is another alternative. Once in the trade, a signal to close will be the red zone outside the bands as was the case in late February. The actual sell signal being the thick MACD black line inflecting from moving downward to upward. KOLD could drop 80% from the present price down to the POC line of the volume profile at about $ 12.50. If leveraged with put options this could represent a 5X profit or better. Any sustained rebound in natural gas prices will lend heavy support to this idea. IF a trader wants to capture smaller moves albeit at the risk of getting into a chop zone, a smaller time fram such as 30-120 minutes could be used.
AMEX:KOLDShort
by AwesomeAvani
1
Will WTI follow Natty into the basement? Is WTI going to suffer the same fate as Natural Gas ? Endearingly referred to as Natty ? Well the good ship Natty got REKT last week. The long side which was overcrowded, overleveraged caught the "to da moon" bagholders off guard . Stunned whilst spitting out the kool aid they were seen gasping for air when the dead cat bounce rocked the boat ., Natty was batterred and was last seen heading into shallow water dangerously close to the rocks . Choppy water ahead alert the marine units. The setup on CL very same chart right before the dump so spread out grab your umbrellas !!! The trade : Let price action have the final say on your entry get the best price you can very important! Patience pays when shorting! Monday may get some purchasing for the week early on so shorts may get pinched a bit before any ride either way. Wednesday the EIA inventory numbers are relesed at 10:30 EST. OPEC meeting also this week I believe so expect volatility. Sell 83.60 & higher use stops longer time frames target 59.50 might be best move of the year if it goes. Record or near record inventory build over the last month so stay tuned! Not a trade recommendation or a reccomendation to buy or sell securites of any kind.
TVC:USOILShort
by Journeyman124
2
The Hard Boiled BOIL Bulls could catch a breakWho says you can't chart 3X leverage? Got a nice down channel here and about to hit the bottom of the channel. 4.20 at the end of next week would be a nice price. That would be over a 96% drop from the top. Interestingly, the previous peaks in Nov 2018 and Feb 2014 dropped just over 96% before touching the channel bottom. Could overshoot below since it overshot out at the top. Also could bounce early like that small bounce in Dec 2015, before tanking lower and tapping the channel. Lots of breakout potential in the RSI. Feeling like there's going to be some crazy times ahead... if things aren't crazy enough.
AMEX:BOILLong
by Lynxys
79
BOIL UPDATE LONGTERMOn the daily chart, BOIL price has never been lower and the relative volume has never been higher in the past five years. Being mindful, this is leveraged it falls faster than an the unleveraged counterpart of the same commodity ( UNG INL) However moves in the opposite directions are also amplified. Horizontal red lines are drawn in consideration of pivots on the 4H. Price was nearly $600 in 2019. Can you think of a fundamental reason why price cannot rise from the present price to something closer to that of 2019. To go from $4 to $600 is 150X in otherwords 15000%. Is there anything wrong with my math or the chart?
AMEX:BOILLong
by AwesomeAvani
4
Natural Gas Full Bear Control. Short term 15m EMA 12 Guide- NG UNG is on a downtrend in every time frame, bears are in full control. - Bulls would hope we hold the 52 week low - need an hourly trend change back to the bulls for we to potentially get a 4h and daily bounce going and shape up an Equilibrium pattern. - short term intra-day 15m 12 EMA is our guide for full bear control. - I definitely wouldn't be shorting all the way down here but also there's no signs for me to be interested long as well atm unless bulls can start to shape up some hourly trend change.
AMEX:UNG
by ArcadiaTrading
Energy Fundamental + Technical Macroeconomic Update | 3.14.23WTI Crude Futures Rebound, Brent Crude Futures Rise On Wednesday, Brent crude futures rose above $78 per barrel, rebounding from three-month lows as OPEC raised its forecast for Chinese oil demand growth in 2023 due to the country's exit from the zero-Covid policy. However, the group left its outlook for global demand unchanged, citing potential downside risks for global growth. On the supply side, Saudi Arabia's energy minister confirmed that OPEC+ would continue with production cuts agreed upon in October until the end of the year. Meanwhile, the international oil benchmark remained down by more than 5% this week due to the turmoil in the US banking sector and the prospect of another interest rate hike from the Federal Reserve. Heating Oil Futures Fall Heating oil futures extended losses and were priced at around $2.7 per gallon, approaching their lowest point since February 2022. This was due to weak domestic demand and concerns about a recession caused by the Fed. The unusually warm winter season significantly reduced demand and increased supply. According to the latest EIA data, distillate stockpiles, including diesel and heating oil, rose by 0.138 million barrels in the week ending March 3rd, while analysts predicted a decrease of 1.038 million barrels. Gasoline Futures Dip Gasoline futures fell below $2.6 per gallon, slipping further from an over one-month high of $2.8 reached last week. This was due to overall weakness in energy markets and persistent concerns about low domestic demand, exacerbated by the failure of SVB and the closure of Signature Bank. Despite this, the upcoming peak demand season for gasoline and increased demand from China could lead to higher gasoline prices in the medium term. OPEC's reluctance to raise production should also keep a floor under the cost. According to the latest EIA report, US gasoline stocks fell by 1.134 million barrels in the week ending March 3rd, 2023. Gold Prices Unchanged Gold prices remained steady at around $1908 an ounce on Tuesday, near high levels not seen since early February. Investors are digesting the latest US CPI report and adjusting their monetary tightening expectations. Concerns regarding the collapse of SVB and Signature Bank, and news that Credit Suisse found "material weaknesses" in its reporting, continue to raise fears of contagion to other banks, leading to a risk-off mood. The inflation rate in the US slowed as expected, but the core monthly rate accelerated, indicating that inflationary pressures remain elevated. Most investors now expect a 25bps rate hike from the Fed next week, while the ECB is expected to raise rates by either 25bps or 50bps.
OANDA:WTICOUSD
by TayFx
Natural Gas $NG $UNG $BOIL Tips for Riding your Profit- 4H 12EMALast weeks NG video i mentioned that this is likely a climax bottom and we are heading higher with potential inverse H&S pattern, it ended up playing out in the hourly time frame and bulls were a lot stronger than i expected. - Looking at the 4h time frame 12 EMA as full bull control support if we don't lose it then we wont be getting 4h and daily consolidation yet. - im still holding my $BOIL position (it 2x leverage of UNG) its a small position so i'm letting it ride at least 20~30% of course ill still be watching how we consolidate on 4h and daily time frame will tell me a lot if the bull move will continue.
AMEX:UNGLong
by ArcadiaTrading