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NATURAL GAS Strong sell towards at least the 1D MA200Natural Gas (NG1!) broke below its 1D MA50 (blue trend-line) last week for the first time since February 11 and upon the first re-test as a Resistance, it got rejected. This indicates strong sell bias on the medium-term. The likely target is the zone within the 1D MA200 (orange trend-line) and the 1D MA300 (green trend-line) or when the 1D RSI turns oversold. With the long-term pattern being a Bullish Megaphone since July 2020, the 1D MA200 was reached on both previous Higher Lows formation. Depending on the news at the time, as long as the pattern holds, the price is then more likely to bounce back up. However NG's multi-month cyclical behavior shows that it is close to the end of the current Cycle. So if the Megaphone breaks to the downside, be ready to invest in a long-term sell. Updates will follow until then. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
NYMEX:NG1!Short
by TradingShot
NatGas NG1! - Further Decline Ahead, P5 Possibly ReachedAllen Andrews gave us great rules. The P5 rule is one of them. As we see in the chart, P5 could be reached. What does this mean? It's an indication that price is at it's peak and a potential turn is ahead. Furthermore we have reached the center-line, where a) price will beak through, revisit and continues or b) price will turn and trade to the opposite direction, which would be far below at the L-MLH (the lower parallel). I like to wait for some kind of confirmation. One of these I have in my arsenal is the break of previous lower highs. You can see the short line in the chart, where I would start to take action. So, we have another LT chart to observe. Keep it in your watch list - it could be an epic play.
NYMEX:NG1!Short
by Tr8dingN3rd
2
US Natural Gas Had Its Worst Day Since 2018: RSI falls Below 50US natural gas prices posted their worst daily performance since mid-November 2018 today, plummeting 17% to $7.2/MMBtu, as of writing, after Freeport LNG announced early Tuesday morning that it does not expect the export facility to resume full plant operations until late 2022 due to the explosion occurred on June 8. The Freeport LNG facility has a production of 2 billion cubic feet per day, or around 16% of US LNG export capability, and has been operating at near full capacity in recent months. The disruption at one of the largest US liquefied natural gas export terminals will put a severe upward pressure on European gas prices ( Dutch TTF ), which have been falling in recent months as Europe has significantly increased its liquified natural gas imports from the United States. Technically, US natural gas prices are now testing the 2022 bullish trendline, with the momentum indicator (14-day RSI) dropping to 38, the lowest level since the start of the year. A breach below the psychological threshold of $7/MMBtu would open the door for a bearish assault to the nearest support in the 6.50 zone (lows of April 25 and May 10).
CAPITALCOM:NATURALGAS
by Capitalcom
3
NatGas: LowIt hit the floor (it hit the floor) Next thing you know NatGas got low, low, low, low, low, low, low, low Okay, these aren’t exactly the lyrics of Flo Rida’s “Low”, but they are fitting, nonetheless, for we expect NatGas to move further downwards below the support at $7.524. Just before the next support at $6.466, though, NatGas should turn around and head upwards, crossing $7.524 and even the resistance at $9.60. However, there is a 38% chance that NatGas doesn’t listen to Flo Rida’s song. Instead, it could climb directly above the resistance at $9.60 and subsequently rise into the blue zone between $11.298 and $12.116.
NYMEX:NG1!
by MarketIntel
Elliott Wave Analysis: Natural Gas Confirms Temporary TopHello traders and investors, today we will talk about Natural Gas in which we can see sharp and impulsive decline from the highs, which in Elliott wave theory suggests and confirms temporary top in place. From Elliott Wave perspective we can clearly see a completed five-wave bullish cycle within 5th wave at projected 9.0 level. In Elliott waves, after every five waves, we can expect a three-wave A-B-C reversal, so with current five-wave drop from the highs, seems like Natgas is now slowing down within a higher degree (A)-(B)-(C) correction. Well, wave (A) seems to be completed now, so we may now see a three-wave A-B-C corrective rally in wave (B) that can retest 7-8 resistance area and form a nice Head&Shoulders pattern before we will see another sell-off for wave (C). Happy trading! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NYMEX:NG1!
by ew-forecast
3
Natural Gas - NG1! - Short SetupI think oil and natural gas are pretty stretched technically and even though there is a real shortage in certain goods out there, the market will eventually take down the commodity with it. It's tough that they will crash markets massively, so there's a flight to dollars to defeat the ruble going on with a fight on inflation , real or imagined. I don't think it will be long lived, but I do think we get natural gas to pull back temporarily. There's a couple different paths to the head and shoulders pattern playing out. It's been impressive how gas and oil have held up so let's see what Friday brings. I think it will be a bit wild, don't you?
NYMEX:NG1!Short
by worldlyFriend67762
Gas price will skyrocket !!!! Not too late to get in now !Looking at the monthly chart, one can see quite clearly a few things : 1. Bearish trend ended when it breaks out on July 2021 2. It has a long consolidation phase from May 2010 to Jun 2021 - a total of 11 years. Would you be holding for so long ? haha I am bullish on this commodity and will be adding some soon. Please note that commodity trading is volatile so trade with money that you can spare and also make a small % of your total portfolio. The recent Luna crypto plunge has taught many traders the hard lesson with its 99% plunge !!!! When money comes too easy , with 19% interest payable yearly, one wonder if it is a form of Ponzi Scheme or not . Please DYODD and be safe!
NYMEX:NG1!Long
by dchua1969
Natural Gas - Short PlayI think oil and natural gas are pretty stretched technically and even though there is a real shortage in certain goods out there, the market will eventually take down the commodity with it. It's tough that they will crash markets massively, so there's a flight to dollars to defeat the ruble going on with a fight on inflation, real or imagined. I don't think it will be long lived, but I do think we get natural gas to pull back temporarily. There's a couple different paths to the head and shoulders pattern playing out. It's been impressive how gas and oil have held up so let's see what Friday brings. I think it will be a bit wild, don't you?
NYMEX:NG1!Short
by worldlyFriend67762