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Natural Gas

NG, not Coal. Thanks!The big question is what is going on with Nat Gas this year??? The December(Z) contract is still coiling up in a wedge pattern and about to reveal the answer. A closer look at the bullish scenario... It's looking technically hopeful with the 200 Week EMA, $3.00 level, and the bottom of the wedge all lining up. Now the bearish scenario... The RSI could actually be showing that the strength of this trend is toast and it's possible the MACD is over-extended. It would be a good idea to keep a close watch for the whole thing to fall apart, just as bulls are piling in for an anticipated leg up. As of now I'll be looking to buy December(Z) again around $3.00 if a bounce is confirmed and it remains within the wedge pattern.
NYMEX:NG1!Long
by ryan-snk
RIP to the MACD cross BB Trendline Swing TradersThe price gapped by 69 cents. Hard to think there aren't whales having fun fleecing retail or something. I wonder what will happen next with the COT. Actually we just changed month as we were close to expiry. Damn might have been able to profit from the contango. Still funny to see. I wonder how many retail gap traders will furiously short it now. And the short ETFS must be doing great. Maybe Robinhood "investors" will notice big drops and buy the chart without a clue of what is behind it. Depending on the broker people just trade some made up chart that is supposed to look like NatGas and I'm sure some short sellers got ran over. Commodity futures are more complicated than Forex in the sense that you got to watch the expiries. Bigger barrier to entry I mean. If you understand that: - Less is more, - Trading is not rocket science, - You must not overcomplicate your trading, - The best strategy is a SIMPLE one (that you can explain easilly in a few words and took you 15 minutes to put together), - Smart people are at a disadvantage, - The most important part of trading is emotional control (something that sounds like anyone can do it), - You can make 50% in 2 months, - Trading is a new paradigm it's not like other boring jobs where the more you put in the more you get out here all you need is 1 hour a day, - Spend as little time as possible doing research to avoid analysis paralysis, - Rely heavilly on indicators Then you are the smart money and on the road to success and I know some people that would be very happy to sell you a course. Good luck competing against the pros with your simple strategy, low IQ, slack off not a care in the world attitude, and 45 minutes a day. Just something to cheer me up and distract me after I missed buying the pound by a few seconds. Who knows maybe it'll go back to my entry before rallying. Now NG is only in a contango of about 12%, not enough for me to want to exploit if that's even still possible with my broker.
NYMEX:NG1!
by MrRenev
NG - September Pullback Arrived 9/12/2020NG at the daily view. September's pullback finally arrived. This shouldn't be a surprise at all. Temperatures lowered to a level where the A/C doesn't need to be on all the time. However, the temperature is not cold enough to turn on the heat. Utility companies are already planning for how much energy would be needed for the fall. I wouldn't go full short with this. Usually, September is a pullback. However, when approaching October, that's when natural gas rallies again. You do not want to be caught short when the heat demands ramps up. Other than that, NG seemed to have form an upward channel since August. The price action seems to be aligning with the lines.
NYMEX:NG1!
by Itsallsotiresome
1
Natural Gas (NATGASUSD): Update & Bearish Continuation as it been said in my earlier analysis for natgas, the market reached a key weekly supply zone. based on that the market violated a rising channel that it followed from the beginning of August. it looks like the sentiment is changing and bears are willing to push even lower. goals: 2.31 2.19 (on the chart is the short trade that I took yesterday during us opening, it is based on the retest of the support of the channel)
OANDA:NATGASUSDShort
by VasilyTrader
14
September Pullback or Hurricane Rally? 8/25/2020NG at the daily view. Natural gas is stuck between two trend lines. They're acting as both support and resistance. Currently, Natty is above all major moving averages which is bullish on its face. That said, this could go in two directions. 1) September usually has a pullback due to cooler weather and less need for A/C. However, the temperatures are just high enough to not need heat or stay indoors. Judging by how many supports are below, I am not expecting a big pullback. The next support could be 2.25, 2.08, or 1.99... And they're all rising. They keyword is "usually." 2) That said, Hurricane Laura is also disrupting the gas and oil extraction and production sites. If Hurricane Laura causes more damage and cut off production, then the supply of oil and gas may decrease further. That would increase the price. A series of gas companies filed for bankruptcies back in June. That also decreases the supply. In either case, Natty will definitely ramp up when we near October due to increased demand. In this cycle, this would be a terrible time to be a bear.
NYMEX:NG1!
by Itsallsotiresome
Disappointing September Pullback? 8/23/2020NG at the daily. NG usually has a pullback in September due to cooler weather, but not quite freezing. There are several supports below. 2.24 and 2.08 will be kind of hard to break since they are the 400 and 300 DMAs. The lowest price that I see this going is 1.97. It's less likely, but Natty has a tendency to do the improbable. September's pullback may prove to be disappointing. A wave of gas companies filed for bankruptcy back in June which caused the short-term bearish pattern during the summer. Utility companies were expecting a prolonged shut down. Here's the kicker. It's about about supply and demand. Gasoline only comprises about 1% of natural gas' usage. The biggest usage has been heat, A/C, and the industrial sector. NY and CA are not industrial states. The Rust Belt and the Midwest are where most of the US' industrial sector is located. Most of the those regions are not shut down. After a series of gas companies filed for bankruptcies and cut production, that means supply decreases dramatically. Even though the US is not back to 100%, the drop in demand is not as big as the drop in suppliers. Think about it. The need for heat and A/C will not go away completely. Eventually, that demand increases over time. If there are fewer suppliers, what happens to price? Furthermore, what are the chances that utility companies have to rethink their projected demands now that more states are opening? September might be a disappointing pullback due to the fact that demand may increase, but the number of suppliers may not. The recent hurricanes did not help with increasing the supply as well. NG mainly has two paths. Either it pulls back to one of the supports and the launches or it breaks the 2.49 resistance. Either way, the end game is that NG may go higher than what bears want. Remember, every bull and bear market cycle ends eventually. It was just time for NG's bear market to end.
NYMEX:NG1!
by Itsallsotiresome