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Ng1

#NatGas UpdateNatGas is nowhere close to expectations. Here it is purely my fault for not looking for alternatives hard enough. In hindsight, the situation was not that difficult to prepare for. Initial wave (a) of the remaining 2023 uptrend seems complete (unless it is a diagonal). The price is likely to spend next month consolidating before rising in wave (c) of (y) of 5 of (1). Having missed that move in wave (a), it makes little sense to label lower time frames until wave (b) is fully formed or the price renders the analysis wrong.
OANDA:NATGASUSD
by Fomenka
Energy markets top of mind – got gas?Energy markets are front of mind – we see crude into new cycle highs and riding the 5-day EMA – clients are progressively increasing short exposures, although we’re not at historically high skews. Nat Gas (NG) – the wild west of energy markets – has broken the $1.91 to $2.82 range it has held all year, and the Bollinger Band volatility squeeze is firmly on. EU TTF NG prices were a clear driver, with price closing up 28%, and along with US CPI, will be front and centre in the session ahead. Gasoline has moved to range highs of $3.00 and could get more attention from clients, if and when it closes above the highs. The fundamentals behind the NG move have been firmly debated and whether the potential worker's strike at the Chevron and Woodside LNG facilities has genuine longevity – the three facilities in question account for c.10% of global LNG supply, so it is significant. The risk to NG longs resides in a quick de-escalation of talks and we ultimately see no impact on supply. Married with signs of a mild winter in Asia and LNG not far off capacity limits, we could see a sharp decline in price on a resolution. Conversely, if we do see a full escalation and the market feels it could play out over a period of weeks, longs will be sitting pretty. The trend-following crowd would be triggered on NG, with price closing above the Bollinger band and Donchian Channel (40-day look back). This still needs work, but the fact we’ve seen a breakout has raised the prospect of a test of the 200-day MA and full trending conditions. Looking at the intraday tape in the US500 we see that as crude prices pushed above the April highs, we saw little selling of equity. We also saw the market's pricing of expected inflation (through ‘breakeven’ rates) also falling. This goes part of the way to answer two important questions – the level where higher energy prices accelerate the view that headline inflation may reverse higher again. And, whether higher oil prices become an outright negative for equities. It appears that while we are closer to that tipping point, it feels like it may take a break of the psychological $100p/b to change the risk dynamic. For now, longs in Nat Gas seem the right position, knowing the clear near-term risk/catalyst is headlines on strike action in W.A.
PEPPERSTONE:NATGASLong
by Pepperstone
1
E-cutieAll year EQT, an unloved natural gas producer has been a swing trader's paradise. I've harvested so many gains from these E-cutie trees I thought I'd make a thread just for it and post trading updates. The macro technical picture is clear. Years of being battered by shorts ended with capitulation in 2020, followed by a swift rebound. Fundamentals are tightening. According to analysts, $25 is fair price for $2.50 NG price. Goldman Sachs has a $23ish target. Price action is showing signs of bottoming. It's lining up but this is much more profitable short term swings. Currently, price is building a base at previous long term support around $18. More downside is certainly a possibility given that NG prices look overvalued. But, EQT is in a channel and fundamentally undervalued. Investors might front run this sector as demand picks up in later in the year, in which EQT will likely be closer to $25. s3.tradingview.com Long EQT +200 @ 18.10
NYSE:EQTLong
by trade-God
NatGas: Take-off 🛫The price of NatGas has gained significantly again since Friday and could thereby move further away from the support at $2.48. Thus, we assume that it has already left the white wave (2) and is ready for high flights. For the white wave (3), it must rise significantly above the resistance at $2.75. After the completion of this wave, we expect a small correction and then another significant rise in the form of the white wave 5. Hence, we see a lot of movement on the upside at the moment. However, it should be noted that there is still an alternative scenario with a probability of 28%, which occurs if the price now falls contrary to our expectations. Then it would first have to fall below the support at $2.48.
NYMEX:NG1!Long
by MarketIntel
#NatGas Update #OOTTThe chart is non-tradable (though I did enter some cheeky shorts). Natgas is tracing out something really intricate, as is its typical behaviour. I suspect (and this is only specualation at this point) that the market is undergoing a compex [ w] [ x] [ y] correction as wave b where [ x] is a flat with an expanding diagonal in wave (C). Then there has to be either another flat or a triangle in wave [ Y] to complete wave b and proceed to a simple impulse c. That is extremely speculative at this moment, and hence not tradable from an ElliottWave perspective. The key points are - I believe the correction within the correction has not yet been completed. - Once wave b is completed, there may be a nice quick short setup followed by medium-term long opportunity This is not advise.
OANDA:NATGASUSD
by Fomenka
NG1! Is Bearish! Short! Here is our detailed technical review for NG1!. Time Frame: 5h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 2.667. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2.574 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
NYMEX:NG1!Short
by SignalProvider
12
NATURAL GAS Buy lower, sell the break-outLast time we looked into Natural Gas (NG) we called for a buy entry (see chart below) right after the contact at the bottom (Higher Lows trend-line) of the Bullish Megaphone: The 2.550 target has been hit but the rise didn't stop there, breaking even above the former 2.690 Resistance and making a Higher High in the process. The price is right now above the 1D MA50 (blue trend-line) but in terms of Risk/ Reward neither a favorable buy or a sell. We are willing to buy at 2.400 with a tight stop just below the Megaphone's Higher Lows trend-line and target 2.800 (below Resistance 1). If a 1D candle closes below the bottom (Higher Lows trend-line) of the pattern, we will sell and target the 1.950 Support. The 1D RSI is trading inside a Channel Up pattern. If broken, it will be a first confirmation of a bearish break-out signal. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!
by TradingShot
1
NG1! Buyers In Panic! SELL! My dear subscribers , This is my opinion on the NG1! next move: The instrument tests an important psychological level 2.674 Bias - Bearish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Target - 2.568 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
NYMEX:NG1!Short
by AnabelSignals
14