NGAS - Daily Analysis and ThoughtsFor now I would say the higher probability move is to go down and retest the low, based on how the volume is behaving. But have to be a bit more patient and monitor how price develops at the recent low.
NGAS
NGAS - Weekly Analysis and ThoughtsIf we are to continue up the following weeks to break the top, (1) a spike in volume to indicate buyers entering the market would be confirming that the price is going further up.
(2) I want to see volume and price strength on the lower timeframes showcasing buyers entering, and continuing to push the up-trend further, so 'higher highs, lower highs'.
Natural Gas trend confirmedBull trend break confirmed with 3 day below candle, expecting to head south searching for first support.
NATGAS - is this the scenario?NGAS was not able to break and hold above 3 dollars, it tested 3 times, and failed. We might be looking at a possible completed 3-wave structure - which means the next move could go down and test previous lows.
Note to self: NGAS is quite fun to trade, analyze and set up possible IF-then scenarios since it's moving very sharply and a lot, this creates lots of trade-opportunities.
Natural Gas: Sell Hi again traders
Hi I think gas price will be in free fall.
Short positions only at market
Stop: 2.89
Target: 2.47
Natural gaz just broke the uptrendline There is a high probability If Ngaz can break 2.6000 will continue to 2.4000 dollars
💡 NATGAS. Weekly Technical Analysis UpdateMidterm forecast:
While the price is below the resistance 3.000, beginning of downtrend is expected.
We make sure when the support at 2.250 breaks.
If the resistance at 3.000 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 2.378 on 12/08/2020, so more gains to resistance(s) 2.700 and maximum to Major Resistance (3.000) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Natural Gas longnatural gas long, mans ate a burrito and farted up coal it was so black nigga asked the doctor for a new hole
Perfect Falling Wedge Pattern: Bullish FormationThis is on the 2 HR chart on October Contract. Quite a bearish week. I still believe we are headed up. Very short time frame to have a full blown bearish continuation with winter right on the corner and demand expected to start rising with cooler temperatures. Also Hurricanes and storm season is upon us. Usually we see spikes in prices in September, October & November.
We’re reaching very strong support Zones. I believe this could have been a necessary correction for the bullish trend to come. I expect we go to somewhere around 2.7-2.8 where massive resistance is. We could go somewhat lower this week to where the scribbles are below the falling Wedge Pattern which gives us confirmation on a bullish run expected back to bullish trend upward lines.
Don't miss the great buy opportunity in NGASMidterm forecast:
While the price is above the support 1.400, beginning of uptrend is expected.
We make sure when the resistance at 2.250 breaks.
If the support at 1.400 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI bounced from the support #1 at 30 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.640 on 07/20/2020, so more gains to resistance(s) 1.900, 2.000, 2.100 and maximum to Major Resistance (2.250) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 58.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.650 - 1.550). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP1= 1.900
TP2= 2.000
TP3= 2.100
TP4= 2.250
TP5= 2.500
TP6= 2.700
TP7= 2.950
TP8= 3.650
TP9= Free
Don't miss the great buy opportunity in NGASMidterm forecast:
While the price is above the support 1.400, beginning of uptrend is expected.
We make sure when the resistance at 2.250 breaks.
If the support at 1.400 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI bounced from the support #1 at 30 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.640 on 07/20/2020, so more gains to resistance(s) 1.900, 2.000, 2.100 and maximum to Major Resistance (2.250) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 58.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.650 - 1.550). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP1= 1.900
TP2= 2.000
TP3= 2.100
TP4= 2.250
TP5= 2.500
TP6= 2.700
TP7= 2.950
TP8= 3.650
TP9= Free
