$UNG to sub $2? I know this would be a crazy move and I have no clue what would cause it, but the chart says that this is a possibility.
As you can see, the chart has formed a H&S pattern and is breaking down. If you take the length of the pattern and extend it down past the breakdown, you get a price target of sub $2. Maybe this is a move that plays out like oil did in 2020?
UNG
$NG $UNG $BOIL Where Price would be for the Next couple weeks- UNG NG BOIL have retraced over 50% fib of the A to B move from the bottom, that's a clear sign that we will likely get an equilibrium base on how significant these swings are.
- NG has a tendency to break a resistance and have no follow through vice versa breaking a support and have no follow through so im looking for a equilibrium tightening up price action the next couple weeks.
- Short term bears still in full control
Natural gas is prepping for a big moveNatural gas is prepping for a big move to the upside after the gap fill that's marked on the chart (2.35 vicinity). The gap coincidently lines up with the lower trend line of a falling wedge , making this area a magnet. The move in Natural gas in the previous weeks was very large , which subsequently required some consolidation before another leg. Assuming the general markets can sustain some footing or stall , despite the Silicone Valley bank debacle, natural gas can make a move to the $4 mark.
Natural Gas $NG $UNG $BOIL Tips for Riding your Profit- 4H 12EMALast weeks NG video i mentioned that this is likely a climax bottom and we are heading higher with potential inverse H&S pattern, it ended up playing out in the hourly time frame and bulls were a lot stronger than i expected.
- Looking at the 4h time frame 12 EMA as full bull control support if we don't lose it then we wont be getting 4h and daily consolidation yet.
- im still holding my $BOIL position (it 2x leverage of UNG) its a small position so i'm letting it ride at least 20~30% of course ill still be watching how we consolidate on 4h and daily time frame will tell me a lot if the bull move will continue.
Natural gas is overextended Natural gas looks to be forming a near-term top in what I think is an ABC move up. Bearish divergences are building on the hourly and 4 hr chart. Although,
these divergences can continue to build while Natural gas grinds up , the risk-reward ratio warrants caution. Where does the B wave look to target? The $2.40 vicinity looks plausible, being there was a lot of price action there, a gap , and an attractive fib extension zone. The subsequent C wave will be spectacular, with the potentional of having a 3 or 4 handle.
Natural Gas gaining momentumThe rally continues, what's next for Natural Gas?
Massive long term reversal signals on watch.
Natural gas is stuck, but nearing a move Natural gas has been oscillating in a wide range between $2.34 and $2.60, give or take a few cents. $2.50 support/resistance has been the decision level for a sharp move in either direction. At this point, both extremities have been tested multiple times , weakening both support and resistance. I believe that if natural gas bounces here and tests the higher extremity, it will be broken with ease. However , the longer it stays near the bottom of the range, a break of $2.34 becomes likely and a fall to the $2.20 level materializes. $2.20 is roughly the top of the resistance channel that natural gas has been stuck in since December of last year (highlighted by the green box). That flush might wipe out the remaining stops and a big portion of the bulls that are remaining in natural gas, which could yield a nice bounce and trigger a short squeeze.
Natural Gas: on watch for a breakout!We discuss the latest daily and intra day price action.
Some education about basing formation and what we need to see to gain likely more upside.
Natural Gas at supportNat Gas, the widow maker - is at the 100 month ma (green line), which was a resistance level during it's consolidation and should be a support here. How much of a bounce it can get is hard to say but my guess is at least to 6 dollars sometime this year. This is a monthly chart.
Decision time for natural gas The daily candle that just opened is forming in a very interesting place. It will encounter some strong resistance around the $2.50 mark, which coincides with the last candle and down trend line since December. If Nat gas manages to push thru and break above $2.50 and close above the down trend line, then game on to +$3. If it fails at $2.50 and heads lower to the recent low at $2.39, it is likely to break much lower and make new lows , around the $2.20 mark.
Natural Gas looks interestingTake a look at this Nat Gas chart. It looks poised for a rotation of capital to come out of the SPY and buy it at these depressed levels.
Natural Gas: The Widow MakerNatural Gas is on pace for it greatest & fastest fall in price history.
Nat Gas is hitting technical support in one of the most oversold conditions ever.
We discuss some Nat Gas cycle history that may be useful in knowing how to trade Nat Gas.