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Ng!1

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🔥 breakoutNG1! broke down out of the raising wedge (yellow) and I expect further downside. It will prolly not be in straight line, pullbacks along the way expected. Actually now we are sitting at the support zone 7.78 - 7.55, so bounce up or sideways before next leg down is possible. Target being the support zone 6.46-5.95 and potentially the lime uptrendline. Also there is a upward channel (blue) on the log scale: Will we test the channel lower edge? Let me know in the comments how much has your gas bill risen if you already pay new price. Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
NYMEX:NG1!Short
by bizmark
9
Natural Gas collapsing! Yet another deflationary signNatural gas in the US is collapsing. In part this has to do with LNG exports to the rest of the world being halted due to a fire to one of the export terminals. However in my honest opinion, there is more to it. It probably has to do more with the deflationary forces taking over, as high interest rates, money supply shrinking and inflation being too high, have destroyed demand to a very large extend. At the same time we are seeing progress in the energy space, with more projects and drilling taking place, as the ESG movement is taking a hit. The green movement needs to be sidetracked for a while, as we need cheap energy right now. Otherwise the war in Ukraine won't stop in Ukraine and we are gonna have famine in most of the world. So where would I be looking to buy natural gas? Or until what level would I be willing to short it? Based on an average I created which includes several futures contracts, I think that closing shorts at around 5$ is a good idea, yet buying a lot of NatGas with significant upside, I'd say start buying between 3-4$.
NYMEX:NG1!
by BitcoinMacro
1
NATURAL GAS🔥 to $4.6?Please 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free. Wassup guys?! After my NG short call (two months ago) and reaching it's target I think the drop may not be over yet. I can imagine price is going to test support cluster created by major uptrendline (lime), horizontal support 4.75-5.95, and the yellow trendline. The former support zone 6.46-5.95 now acts as resistance at it seems to me that the upside pullback from the low 4.75 to 7.22 is running out of steam. Closer look (4h)... ...reveals local triangle (yellow) which is just about to break one way or the another. My bet is to the downside breakout. I wouldn't go long as long as the major downtrendline (red) holds. Let me know your thoughts in the comment section. Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
NYMEX:NG1!Short
by bizmark
7
NATGAS Long Update! Buy! Hello,Traders! Here is another dimension To the NG bullish forecast That I posted last week. In there we established That the price is about to retest The long-term rising support line From where the rebound is almost Inevitable. Now, the price has indeed Almost reached that support and today We are taking a closer look at the gas chart. As you can see the rising support is Confluencing with the horizontal support level Which reinforces our bullish bias And we are already seeing a bullish reaction So I think that we can expect a move higher And a retest of the local Horizontal resistance level above Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
NYMEX:NG1!Long
by TopTradingSignals
6
Natural Gas to GrowIt seems NG has started a new impulse wave as it finished C move down in late October. The momentum in price sees a higher low, and a potential for a bullish continuation should see a test of $7.1 resistance level. Major resistance is seen at $9.7. I see energy as the ONLY short-medium term gainer. NASDAQ has been underperforming greatly in the index range, and will probably continue to see lower demand as earnings have been disappointing, and Fed's tightening policy continues.
NLong
by UnknownUnicorn11898468
3
NATURAL GAS Critical test for bullish or bearish DecemberNatural Gas (NG1!) hit yesterday the Lower Highs trend-line of the August 22 top and today we see the first signs of a rejection. Until this breaks decisively, we can expect NG to pull-back to the 0.382 and 0.236 Fibonacci levels. Based on the 1W RSI though, which is on a Falling Wedge since the October 01 2021 High, there is still some room to rally, and if yesterday's Lower High is anything like the February 02 2022 Lower High, then after this pull-back we can expect a rebound back to the 0.786 and 1.0 Fibs even a new Higher High. In that case we will be buying every closing above each Fib. A complete bearish reversal scenario will take place if the price makes a weekly close below the 1W MA100 (red trend-line), which is where NG rebounded on October 24. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!
by TradingShot
2
🔥 Natural gas (NG): resumption of the long-term bull trend.●● Preferred count ● Natural Gas Cash ( NG .C), 🕐TF: 20D Fig.1 I worked out in detail the counting of long-term waves on the historical chart 1930-2022 . The chart has a number of notes. The structure of wave (IV) in the future may become more complicated to a triangle. The ending diagonal (V) is also questionable — the development of momentum I-II-III-IV-V is possible. _______________________________________ ● Natural Gas (CURRENCYCOM), 🕐TF: 1W Fig.2 Variant of counting of wave structure V of (III) in the form of an expanding diagonal and subsequent (IV) , which, apparently, took the form of a double zigzag with a triangle in x . _______________________________________ ● CFDs on Natural Gas (OANDA), 🕐TF: 1D Fig.3 The July 2021 forecast has been implemented. As expected, correction ② (wave Ⓑ in the current version of the counting) took the form of an expanded flat, returning to the area of the previous fourth wave . A long-term bullish trend is expected to resume. _______________________________________ ● CFDs on Natural Gas (OANDA), 🕐TF: 8h Fig.4 A good signal for opening a long position will be formed by waves 1 and 2 with consolidation above the moving average with a period of 610 . 📚 Elliott Wave Guide & Ellott Wave Archive ⬇️⬇️
OANDA:NATGASUSDLong
by TradeWaves-EWA
1
BUY NGRecently, the price of natural gas has been under pressure due to measures to reduce consumption and prices in Europe ahead of winter. Officials expect another supply crunch due to restricted access to Russian pipelines and a possible jump in demand for heating goods. Today, the price of natural gas NATGAS / USD is stable between the level of $5.81 and the level of $6.03 per million British thermal units. On another note. An inventory report from the US Department of Energy can determine if the floor can hold or not. Analysts expect a smaller increase in inventories of 103 billion cubic feet compared to the previous increase of 125 billion cubic feet, indicating an increase in purchases. LNG exports to other countries and storage activity leading to colder months may be responsible for the slowdown in the increase in storage. However, a larger-than-expected increase could mean more downside for natural gas as this may indicate that demand remains weak. On the gas crisis front following the ongoing Russo-Ukrainian war: German Chancellor Olaf Scholz has warned that a proposal to cap gas prices at the EU level could backfire as the region seeks to offset significant supply cuts from Russia. “Price capping always involves the risk that producers will sell their gas elsewhere – and we Europeans will end up having less gas instead of more,” Schulz said Thursday in a speech to the German parliament in Berlin. The German chancellor was speaking ahead of a two-day summit of European Union leaders in Brussels. The bloc's member states will discuss ways to keep energy prices under control and ensure security of supplies, as well as the recent situation in Russia's war in Ukraine. Rather than setting a price cap, Schulze supported the idea of ​​cooperating closely with buyers such as Japan and South Korea to avoid competition for limited supplies, while also attracting like-minded producers. "I am convinced that countries like the United States, Canada or Norway, who stand with us in solidarity with Ukraine, have an interest that energy in Europe will not become too expensive," he said. According to gas technical analysis: Natural gas price NATGAS/USD has retreated to the main area of ​​interest shown on the longer-term time frames, and a break below could pave the way for a move to the next major support area at $3,635. Technical indicators favor a bounce, as the 100 SMA is above the 200 SMA to reflect bullish pressure. However, the gap between the indicators is narrowing to hint at a possible bearish crossover soon. The commodity is also trading below its two moving averages as an early indication of selling momentum. If that materializes, the price of natural gas could drop below $5,585 and make its way to the next main floor. The stochastic has been indicating oversold conditions for some time, which means that sellers can use a breakout period and let the buyers take control. Similarly, the RSI is in the oversold territory to indicate exhaustion among the bears. A turn higher means that bullish momentum could pick up and take the commodity back to the next upside barrier around $8,000.
NYMEX:NG1!Long
by ahmed-sajid
WTI Crude / CL - An Intervention: Saving Blind BullsWhen crude was trading at $120 a few months ago, all you would hear on Twitter from people like Javier Blas from Bloomberg and other propaganda pundits is about how the fundamentals of oil are so bullish, because OPEC production is maxed out, the Russian Federation's invasion of Ukraine, domestic demand because summer, the government donating the strategic reserves to Chinese Communist Party firms on the cheap , etc, etc. There was all that chatter about Europe putting a price cap on Russian oil, and that causing the price to surge overnight to $350 in some kind of dystopian nightmare. At the time, everyone wanted to get long. Everyone would only get long. I remember one day in July oil returned to $91 on like a 10% daily drop and one Twitter pundit thanked the market makers for their "delta squeezing put options" before expiry and that he was happy that he got to buy calls that cheap because it was never going to happen again. This is the way bull runs are. They tend to end when the narrative flips entirely to "who would ever short this?!" And that ending is easier for bulls when something gaps down and breaks the momentum than it is with the price pattern being employed by the WTI MMs where everything all the way up and all the way down is trading in an efficient pattern that seeks-and-destroys both ways on the shorter timeframe. In terms of specific price action, as I pointed out in my early August call that oil was on its way to far lower double digit numbers: WTI Crude Oil - Running and Gunning That the August price action with a quiet sweep of the July ~$86 lows, followed by a bounce, followed by a quadruple bottom, was simply too naive to think would be support. Now, we're at $81, and it once again sounds like a dip to buy. And while we're probably going to see a run back to $86~, this market is no longer in a dip to buy position. A lot of things make sense when you look at the monthly: All of this price action we just experienced in early 2021 was, ultimately, a clean up of the unfinished business from the 2008 bubble pop, which was never addressed during the 2010-2014 ranging. And really, after oil hit... -$38 during Coronavirus Disease 2019 hysteria, you really have to call that the bottom. If you can't call -$38 the bottom, what would a bottom ever be? Now, for those who guffaw at the prospect of oil going back to $50, this is totally fair enough. As always, it sounds impossible, until it unfolds. Humans are only able to believe in what they see. Having even a modicum of faith is a real stretch for almost everyone. But I would like to point out that there is a precedental fractal left behind in the run up to the 2008 bubble pop, which you can see on the left hand side of the monthly chart above. Oil more or less traded in a miniature of this exact same 2022 pattern. When it broke its pivots before finally rocketing to $140, it amounted to a total 35% $28 downturn, which was an enormous number in those trading ranges. Everything is highly inflated and much more volatile and interesting today. The weekly chart shows just how dangerous the situation is for bulls. The reality is, the only inefficiency during this current market structure is in this $81 range, which we are sitting in. It's not showing a lot of interest in bouncing, and it would have to get back into the $100s to really count as a reversal. So if $80 isn't the target to make a bottom at, what is? Well, looking at the daily we can see more clearly that there's something of a plan B in the $69 range that can count as maintaining market structure if a reversal occurs within it. And there's also a chance to maintain the trendline at $66. But in reality, there's a fat double bottom to blow away formed from the September and December 2021 lows. And based on the weekly, there are inefficiencies left behind that were never readdressed at the unfortunate numbers around $50, and specifically right under the psychological $50 level. In my opinion, before oil turns around and rips North to levels that will make living in this world nearly impossible for everyone who isn't a billionaire, the MMs will seek and destroy these levels. And they may stop being so polite about it. It may start to come faster and faster. At some point in the near term future, dumps may come with a quick and significant gap down, and this time, they won't fill. Pundits, analysts, and all sorts of charlatans will all be stunned and bewildered by how it could happen under the macro conditions. And then they will all say "oh, of course, look at these data points. It was only natural that $120 was an inflated number." The answer, they will say, is undoubtedly "something something mainland China 'Zero-COVID' economic demand," not understanding the real state of disaster being wrought in that country as Wuhan Pneumonia goes on a tear and the Chinese Communist Party is starting to be unable to cover it up for much longer. But $125~ was not a top for WTI crude, and neither was $140. A much more painful number like $180 or $200 is coming, and it's not going to take years to get there. I believe that natural gas, likewise, has a lot of downside left to go: Natural Gas / NG - What, Truly, Is a Bull? A lot of things are probably going to bounce for a bit longer and then start to very aggressively dump. You should be prepared for this. Stop listening to talking heads, propaganda, and charlatans, and be rational. None of them want to help you survive financially and none of them want you to be rich. Most of them don't even trade. Trading is hard. Everyone who has ever traded with live funds knows how hard it is to get in at the right time, in the right direction, and hold through all the chaos and pain until something bears fruit. Fronting and flexing on the Internet to a flock of 50 Cent Party bots and collecting a 6 figure salary from Bloomberg or a 6 figure donation from YouTube's profit sharing program, on the other hand, is just so, so easy. Talk is cheap, and yet, mastery is not. Rationality is, ultimately, linked to your level of morality and your values.
NYMEX:CL1!
by LordWrymouth
4