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XNG

Natural Gas: Bubble explosionTrade: short Target: $4.85 - $4.75 range Russian President Vladimir Putin instructed Gazprom to increase supplies to the company's storage facilities in Europe. This announcement of the Russian President pressed gas prices. XNG/USD has formed a "head-with-shoulders" pattern. The price is about to break through the neckline. After the breakout, we expect a tiny pullback with the retest of the neckline from below. After that, we await a massive down movement with the target at the $4.85 - $4.75 range. If the price breaks through this range, the next support will be only at $4.20!
XShort
by FBSAnalytics
1
The diagonal pattern in the range of $ 3.08 ( Daily Chart ) In the daily chart, the first 5 ascending waves have ended in the range of $ 3.40 and the price has entered the corrective phase of this uptrend. Note that this is one of the most likely scenarios. The first corrective wave is finished around $ 2.25 (a wave a) and the corrective movement of this wave is around $ 3.08 in accordance with the RSI. In the 240-minute chart, you can see the structure of the sub-waves, and in the 60-minute chart the price is currently in the first descending trend, which could fall to the short-term target of $ 2.53. Very important notes: The long-term target for natural gas (XNG), as has been shown in the daily chart is in the $ 1.92 range, which is the overlapping point of the two Fibonacci ratios. - The trend line drawn in the 240-minute chart is very important and the price should be fixed below this range to confirm this scenario.
X
by NirmataFX
1
Natural Gas Index: possible course. I know nothing about the naural gas market. I do like charts. One year ago I posted a chart on the XNG suggesting the bottom may be in. (see link below). It was when the index was around 392. It turned out to be correct. I don't follow it often but I thought I would take a look again. Here is the way it looks to me. With the bearish divergence in the daily RSI I think a another down correction way is likely perhaps to about "B" which would be a 50% correction of A. This would fit with the idea that they may be one more pop up in the US dollar. Then as the dollar falls we could get anothe rally up to perhaps C. All this speculation is based on fib relationships and wave structure as I see it. Of course PRICE action is more important. Comments always welcome.
NYSE:XNG
by goodguy
1