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NG

NATURAL GAS LONG-TERM OUTLOOK TO GO 'SHORT'I usually short term trade/swing trade so often trade support and resistance no matter market trend, this would be on 1H (1 hour) time view and below, long-term views will be depicted on the 4H (4 hours) and 1D (1day) view, like this chart. Looking at the long-term analysis on the 4H and 1D view of natural gas, it looks like it has more or less finished an upside and headed downward some. There was possible revisit to 3.02-3.07, but market seems to be done going up for now. This is strongly supported by the evening doji star depicted on the 1D view which is a solid indication of market to head down. I would say anywhere now is a good area to short the market, or you can look at 1HR view (intended for short-term trade) for a more suitable entry point to go short. Suitable entry point being when many indicators are corresponding a short for the 1HR view. I suggest looking a 2.828 and 2.757 as possible exit points when shorting. Please remember to look at what indicators are telling you if you can understand some, as they would likely help you determine whether to get in trade for a confirmed downfall. Also, do set stop losses but be generous with how much room you allow for this due to candle wicks. All comments and questions welcome, if curious about indicators I use then feel free to inquire.
OANDA:NATGASUSDShort
by Dani0
Targets hit. Near the 1W support, resuming the uptrend. Long.TP = 2.840 hit as the 1D Channel Down (MACD = -0.013, B/BP = -0.0240) on Natural Gas aggressively expanded to a 2.752 Lower Low. Since this value was too close to our second TP = 2.740, we decided to close all shorts as the RSI = 45.438, STOCHRSI = 53.580, CCI = -33.7393, Highs/Lows = 0 turned neutral. As NG1! is trading near the 1W 2.696 support, we are starting to build up our long position for the expected 3.020 Resistance test, having tough a more moderate TP = 2.978. If the 2.696 support is tested, we will open the second and last long of this estimated bullish 1D leg.
NYMEX:NG1!Long
by InvestingScope
Potential Trade Idea: Long Heating Oil/Short NatGasRecently our Unum Trading Desk analyst, Lester Davids identified a potential pairs trade on Heating Oil and Nat Gas. "I am bullish on NatGas with a medium term view. We recently saw a break of the downward trend with an inverse head and shoulder developing. In the short term though, we could see a pullback following the breakout. On that basis, one could be short NG and Long Heating Oil." We decided to wait for a better entry level on the medium term trade, rather than playing the ultra-short term reversal. It is now approaching our entry point. On the NG chart: "NG is approaching incline support around the $2.77 level. We also have horizontal support near $2.74. Potential buy/long opportunity. Keep on the watchlist for possible entry." For the pair we want to LONG NG and SHORT Heating Oil. If you want more details on the trade email tradingdesk@unum.co.za
NYMEX:NG1!
by MarkWeetman
Bullish target reached, now pulling back to gather momentum forNG has reached our previous TP = 2.900 and now faces the Resistance of the High extreme line. 4H is a Channel Up but has reached near overbought levels (RSI = 69.332, STOCHRSI = 92.540, Williams = -19.847) with 2.881 its support/ Higher Low. This is expected to break and move to the Higher Low of the proper 1D Channel Up (RSI = 65.173, Highs/Lows = 0.0691) near 2.779. The 2.779 - 2.830 area is a buy zone for the next bullish leg to 3.000 (TP). If it makes also a low "extreme" near 2.747 it shouldn't alarm us since it's been also done on March 26.
NYMEX:NG1!Long
by InvestingScope