will natural gas rally?fundumental seems weak, charts are confusing, but i'm long on that one. Hopefully it will support my estimated rally and go up, and it better be soon because if it will tag the 200MA it will cost a lot.
NGAS
NG is at risk NG breaks 3.1 level and is likely to gap down again if it could not pick up the momentum. Partially it's due the warm whether forecasting this winter. If NG lost 3.1 strong support, it might even go down to 2.9, 2.68 and 2.55 for the next step
NYMEX:NG1!
Natural Gas: Watching For Triangle or Bullish ButterflyEverything is pretty much shown in the chart. I have heard Natural Gas is hard to technically analyze but in my limited experience patterns seem to work pretty well.
---If price continues to the top trendline, I will look to see if it forms in 3 waves. If so, I will be more confident this is a triangle and will look to long around the E point (perhaps right after a break of the lower trendline)
---If price instead goes down from here I will watch the rectangle which is the completion of the potential Bullish Butterfly pattern.
---- Note : both of these scenarios can play out concurrently, which would make me feel even better for this trade!
I am always happy to receive any comments and/or feedback in my ideas. Good luck!
NGAS Feb'17Still waiting on move above 3.50 or dip below 3.09.
Close to bottom of the range though....
NG ENTRY from 3.12 to 2.80going long on NG with entries points between 3.12 and 2.80
support at 3.00, and 2.75
Looking To Short NGASPrice has broken through the s/r zone (3.263-3.237).
If price respects the zone, I am looking to short.
Nat Gas HVFWorth keeping an eye on the tightening range here.. A break has the respective HVF target in its direction. Targets line up surprisingly well with the extremes. I will be watching close to potentially start a position here in coming days.
Natural Gas Trend up potentiallyNG see strong support around 3.1 and resistance just above 3.8. Watch close if the price could break through 3.351 and 3.5 or downtrend below 3.1.
US OIL Jan'17A lot of chop in the mkt but still looks constructive while 50.60 holds. Great risk reward if we do find support in low 51s
Natural Gas May Complete a Short Term AB=CD PatternEarly this morning Natural Gas broke the trendline and has begun to consolidate. Thus I am short-term bearish on Natural Gas and looking for sell set-ups.
I usually stay off of the 15 minute for trade ideas but as this is coherent with my short term analysis for this pair I will look to take this trade. The bearish AB=CD pattern may complete around the .5 retracement of this impulse down which would be a nice location for the short.
Once in the trade I will watch the recent bottom around 3.34 to depend whether I will take profit or hold for further targets (3.297 or beyond).
**This is not meant to be a trading signal so please do not use it as one -- I still have very much to learn as a trader and none of my ideas are trading advice. That said I always appreciate any comments and feedback on my charts and ideas!**
NGAS meets resistance at 29MAIf it won't break above, My suggestion is short until 0.382 support line.
NATGAS Weekly - Gap filled below ..on to the one aboveStrong weekly candle filled the larger gap below from Nov 28 as well took back the 200 MA 3.30 (the caveat is there is still a smaller one Nov 21 2.852 - 2.891 but I expect it will wait for shoulder season if it fills since we've moved up for now)
Tested 20MA with a convincing push up = bias remains BULL
50MA crossed above 100MA
20MA closing in on 200MA
Up trend tested Nov 7 higher low 2.546 within pennies of the prior higher low Aug 8 - 2.523 imo qualifies as a double bottom - same Nov7 low was first touch & test test of 100MA support
Targeting gap to 3.67 and will re-assess price action/fundamentals but ultimately think we see $4 touched before shoulder season
Inventories/Production tight & increasing exports/coal converters are the main fundamental drivers but weather always a wild card
GLTA
