UNG Natty Gas 4 Hour - Wedge Breakout & TargetsNatty gas has been pressed down for a while, the falling wedge on the 4 hour shows pretty good support at the 6.30 level. Could see some upside the next few weeks.
UNG trade ideas
Continuation Wedge (Bullish) | 40% move possibleUnited States Natural Gas Fund LP forms bullish "Continuation Wedge" chart pattern
"Continuation Wedge (Bullish)" chart pattern formed on United States Natural Gas Fund LP (UNG:NYSE). This bullish signal indicates that the stock price may rise from the close of $6.90 to the range of $9.20 - $9.70. The pattern formed over 18 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: After a temporary interruption, the prior uptrend is set to continue.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
it the right trend to long from this prices in UNG it the right trend to long from this prices in UNG no leverage or stop lose just i will add more if it go more down
Natural Gas $UNG $BOIL NG - Future Price Outlook- UNG NG NATGAS 6h 12 EMA is my short term guide
- weekly bear flag potentially confirming
- 52 week low support bulls need to defend
- 1h equilibrium pattern will break Monday
UNG - Natural Gas ETF - Potential Double Bottom Support PlayUNG (US Natural Gas ETF) has formed a double-bottom price pattern on the Daily chart.
The Price has found temporary support above $8.21.
Support Price Targets are: $8.21, $8.16, $7.72, $6.11.
Resistance Price Targets are: $8.99, $9.93, $10.97, $11.97.
UNG etf does not always correlate & follow technical analysis charts.
Be aware of global fundamental news changes regarding energy assets (government policies, corporate policies, supply & demand, etc).
Natural Gas Full Bear Control. Short term 15m EMA 12 Guide- NG UNG is on a downtrend in every time frame, bears are in full control.
- Bulls would hope we hold the 52 week low
- need an hourly trend change back to the bulls for we to potentially get a 4h and daily bounce going and shape up an Equilibrium pattern.
- short term intra-day 15m 12 EMA is our guide for full bear control.
- I definitely wouldn't be shorting all the way down here but also there's no signs for me to be interested long as well atm unless bulls can start to shape up some hourly trend change.
$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?
$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
UNG Could be Near a Secondary BottomUNG appears it could bottom near chart support possibly on 03/13/23.
Both RSI and MACD have bullish divergences.
Elliott impulsive wave up followed by a Zigzag correction.
Mark
Time to GAS UP!The trade represents good risk to reward.. (Wider stop at $6 can be used)
We have had positive weekly close above the previous week.
Entry : $8.50
SL : $7.00
Targets: $11.00 / $16.00
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.
Follow up on UNG?Wow. Swing trade was on point, still looking for possible uptrend from here toward the 200 day moving average.
What's the community think?
Time to reverse?I think this is what is going to happen. Not only due to wyckoff distribution reasons, but also because some major bears have started to capitulate on natural gas.
Natural Gas: Epic Short Squeeze about to happen? Nat Gas got another daily positive close. This chart is looking ultra bullish and we may get to witness one of the greatest short squeezes.
Did You Get In On Time?Week started off great, movement to the upside as predicted. Moving toward the 200 day moving average is another positive note here.
UNG Opening Up NicelyUNG has been on a downfall, but looks to be reaching a stopping point for a reversal.
What does the community think?
UNG Looks Bullish - Could Reach $12The Natural Gas ETF (UNG) has broken above the daily declining trendline.
The bottom this week had a significant RSI bullish divergence
Seasonal patterns for Natural Gas are bullish from mid - February to June.
UNG ended the 02/24/23 session near 8.50.
In the next few weeks it could reach 12.00 near Fibonacci and chart resistance.
Mark
$UNG bounce here back to the neckline (updated levels)Alright, was a little too early previously. Updated the levels. Going to go long at $8.30ish level.
Upside to ~$17
Natty Gas Seasonality TradeAlways remember that they call nat gas the widow-maker for a reason. Something people also don't understand about nat gas is it's seasonality. Summer is its peak season, not winter. Why? Because more is needed in summer than in winter.
To explain: while nat gas is used for heating it is also used for cooling in the form of peaking generation for air conditioning. As well, generally industrial usage is higher in the summer. Finally and perhaps most importantly, the storage demand (i.e. to put nat gas away for the winter) occurs in the summer , while the other uses are also going on.
The usual trade is to buy nat gas for June and July and sell the shoulder (i.e. spring months) when everyone is confused why price is falling in winter, when they think it should be at it highest. In this case, UNG is one (very inefficient) instrument to trade for this by using a horizontal spread, i.e. selling April calls and buying same price June calls. A reasonable bounce area looks to be in the 14 range for UNG, so a ladder of spreads in the area around that price would be a prudent approach.
UNG rebound for Wave 4 UNG has collapsed to a point where producers will take drastic measures to curb production. There is a bullish narrative here for this being bottom that I won't get much into, but I only throw this out there because I like to trade when the fundamentals and technicals both line up to suggest the same price movement - in this case a monster rebound. Bullish divergence on RSI and on the inflow charts, big volume coming at the bottom. These are all the signs of a reversal - $10.80 is my target. From there I will figure out if I want to hold or cut.
Best of luck
Natural Gas BreakoutVolume Shelf. Largest Volume Volume Since November 2018. Im looking for Longs on break out of support box off vrvp. Political Macro Thesis: war continues into spring, NG demand remains stable through Europe. US NG Shipments continue to Europe. US gets colder in early part of 2023, just as we have had a cold one so far. Price goes up. Institutional Hedging for summer AC demand and winter 2023 Europe with sanctions.
Set stops below box. Look for higher volume capitulation as a confirmed false bottom. And vice versa.
Dont invest or risk any more than you can afford to loose.
Be smart. Be patient. Read. Pay attention to your gas $ bill and the weather channel.
Pull Back FishingChannel down that narrows at the bottom so it is a Falling wedge which is a bullish pattern at the bottom of a chart. I drew it as a channel down and I cant change it now but the channel narrows at the bottom/see below. There are a few spinning tops outside the channel. Spinning top candle so far today that can change by close.
How low will it go?
NG has been in a free fall for a while now. This is at an ATL so support needs to be formed.
It could go lower but jut doesn't seem like it could go a whole lot lower.
NG looks dirt cheap, but eve dirt can get cheaper )o: Thanks for bringing this one to my attention Nuggetrouble (o:
Possible stop under 8. BOIL is a leveraged fund for natural gas and is in the same pattern.
No recommendation/oversold.
UNG is looking attractive I'm liking the RSI level, The support levels, and the Gaps that need feeling.
I'm hoping for 40% but will take 20% if it pops to fast.
