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 trade ideas
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.
UNG falling wedge on the weekly Pretty beat up and oversold here.
Starting to form a bullish falling wedge..
Nice pop on weekly volume
I like a pop to resistance around 12.50 , then we'll see if we breakout from there
Massive signal from the market today! Daily AnalysisWe discuss all the major indices and fundamentals heading into the important Jobs number tomorrow.
The market is in a vulnerable point especially if the economic data comes in better than expected.
Massive earnings tomorrow could add to the volatility.
2 important market signals today from 2 leading stocks.
$UNG United States Natural Gas ETFMajor selloff in natural gas in the last couple of months.
January almost looked like a caputilation month based on the volume traded
Curretly on support, and maybe time to put some toes in the water
Trade small, stick to a stop loss
Expect volatility
Natural Gas about to bounce?Nat Gas/ UNG is into massive support and completely oversold on the daily & weekly time frames.
Everyone wanted nat gas at +$9 but no one wants it below $3.
Funny how markets work.
We are long Nat Gas in anticipation of a 25-50% bounce over the next 2-6 weeks.
$UNG bounce here back to the neckline. 60-70% upside potentialWhile I shared a previous idea of UNG falling all the way to $2 (and while I still think that's possible over the course of this year), I'm never one to pass up a good counter trend trade. Idea here:
I think $UNG is bottoming here. This would setup a counter trend rally back to retest the H&S neckline it broke down from $17-18 range.
There's 60%-70% upside in this trade should it materialize over the coming months. The first thing I'd watch for is a reversal in price action and then you can jump in.
I set an alert for this price level and when my alerts hit, I jump into the trade.
I'm in from $10.36. Let's see how it materializes over the coming weeks/months.
head and sholdersIn my analysis, I have identified that the natural gas market appears to have formed a head and shoulders pattern. This is a technical chart pattern that is often used to predict a reversal in the trend of an asset.
The pattern is formed by three distinct peaks, with the middle peak (the "head") being the highest and the two other peaks (the "shoulders") being lower. The "neckline" of the pattern is determined by connecting the lows of the two shoulders.
In this case, I have identified the head of the pattern to have occurred on August 22nd, 2022, when the price of natural gas reached $34.50. The right shoulder of the pattern occurred on December 28th, 2022, with the price reaching around $17.
Based on this pattern, I am predicting that the price of natural gas will drop to around $4.20. This prediction is based on the idea that the head and shoulders pattern is a bearish reversal pattern, indicating that the price will move in the opposite direction of the previous trend.
It is important to note that this is a prediction and not a guarantee of future performance.
Natural Gas IdeaAMEX:UNG AMEX:BOIL NYMEX:NG1!
Weekly Chart on UNG show massive volume spike and RSI is terribly oversold. Big dead cat bounce coming.
Trade Idea: Buy UNG ETFThose (c) who participated in the previous buy/long idea where rewarded with the ETF reaching the target and a +24.5% ungeared return in just under 5 weeks. The underlying commodity has since declined significantly and, in my view, offers another opportunity to buy off ''near oversold' levels (via the UNG ETF which is available to trade and offers exposure). The UNG ETF is down by over 55% from it's November swing highs and down by close to 70% from it's August highs. It also trades at 2x it's mean over 200 days (not shown) and is extended well below it's 200-day simple moving average. The ETF has also tested and surpassed it's December 2021 swing lows which could be a false breakdown. In addition, the price is testing the prior breakout level. On this basis, the price appears to trading in an oversold range and may offer an attractive reward-to-risk over the medium term. To account for elevated volatility, my recommended stop-loss is slightly wider than usual. Note that the price may trade lower before consolidating and potentially developing a bullish reversal. Upside gaps at $13.95 and $15.29 could act as potential targets.
Long UNGI do believe that today's drop to 10.89 was a liquidity grab, I think if the daily today closes above 11.38 we could have our bottom and then up from here. I am new and would hear other ideas... I do think a relief rally is under way soon!
Natural Gas Dream Chart Pattern LongThis is a Dream chart pattern to be found.
Multiple confluences of patterns and support lines intercepting at the same place.
You can see that there is a huge bottom support line intersecting with a down sloping support line.
On top of this, we have a reversal pin bar on today's chart and the completion of a bear flag.
This is a 80% probability of success pattern. This is a Gold mine finding.
I'm so confident on this pattern that I will be risking 50% of my portfolio.
NOTE: This is not a financial advice. This is my on trading and how much risk tolerance I can take. You should only risk the money you can afford to lose.
Happy trading.
Long UNG 12.52Look vol more buying selling
look daily stoch sideways
look weekly still heading lower
high risk trading small shares
$UNG IdeasWhile technically we can go lower, I'm willing to guess the megaphone pattern is more likely. $UNG to $10 is still possible, but I'm ready to take a heavy bet on bottoming out now.
Long 14.62Look at the daily stoch on bottom
look at candle small capitulation
on daily chart and support is 14.21
UNG | Its Time to Load | LONGThe fund invests primarily in futures contracts for natural gas that are traded on the NYMEX, ICE Futures Europe and ICE Futures U.S. (together, "ICE Futures") or other U.S. and foreign exchanges. The Benchmark Futures Contract is the futures contract on natural gas as traded on the New York Mercantile Exchange that is the near month contract to expire, except when the near month contract is within two weeks of expiration.
