$UNG DIP BoughtRetesting July lows. Winter is coming. The narrative for Natural Gas should swing back around as winter inches closer.
UNG trade ideas
Ascending Triangle on UNGUNG 4h chart ascending triangle forming after flirting with the 200 week SMA on 21/24 Oct. Multiple tests of the lower trend with continued higher lows print. Price target of 24.00 or the 200 day SMA, which ever comes first. AMEX:UNG
Natural Gas Going Higher?Gas problems will get worse and Europe will unfortunately be the most affected. Europe's dependence on third countries for gas extraction will, in my forecast, lead to an increase in the price of gas. The price of gas will reach about $13-14 before we reach an extreme and change direction. My target for the UNG ETF is $50 in the next 3-4 months.
UNG: Best guess of what is next for natural gas. We did get a bounce up in natural gas after my first post on October 23rd. (see link below if interested). Price rose just enough to close the closest gap. In the hourly chart this was followed by a .78 correction. It may move lower in Monday to closes the small gap below the current price but sometimes starting gaps are not closed right away. If Monday goes up I would think it is likely the next higher gap would get closed.
On the daily chart I used the daily RSI (using the positive reversal) to determine a possible target if the rally continues. When using the RSI remember it is determined by the closing price.
As always: act on your own analysis. But I hope this is helpful. Have a great weekend.
$UNG NatGas Analysis, Key levels, and Targets $UNG NatGas Analysis, Key levels, and Targets
My average is 23.25 here… I’m 4,000 shares deep. Let’s rally, nat gassers… lol… I’m long here… big time..
deep accumulation as supply is offloadedthe fed has quietly halted bottom line reductions of the balance sheet, markets should rally leading into the holiday season and then tank once again. Energy commodities are experiencing more supply than usual leading into the winter. This is necessary in the current economic conditions to prevent civil unrest and casualties in colder climates. Speculation that supply is being subsidized.
Bullish for companies that rely on cheap natural gas, bearish for gas price. Deep accumulation for 6 months or so, could shoot up at any time if the supply flow is reduced. Hard to trade. Have calls but looking to exit.
UNG LongI think here is a very good long opportunity. We can reach the volume defined area at the price 28. The daily MACD also confirms the higher low and the turning point. RSI is not overbought.
$UNG: Next leg up in Nat Gas pricesI think we may see a rapid advance in Nat Gas here, the technical setup in $UNG paves the way for a 18.4:1 reward to risk potential trade. I'm long equity here, but you could trade this with options, or an equivalent fund in the EU or UK (if you're EU based). Futures or options on futures are also an option, but more complicated to execute with maximum efficiency. I suggest you explore this if you're more experienced, and able to determine which strategy to use to maximize RR and performance vs capital allocated to this idea.
Best of luck,
Ivan Labrie.
$UNG my position $UNG Analysis, Key levels & Targets
I have 2000 shares of UNG at 26.50… looking for 30.06 for 13.43%… let's go...
UNG natgasLooking for one last pump up to 35 or 38 by end of October.
30/8-69 for the next move up.
Long position to 35 or 38.
ozindustriesforecasting.com to subscribe to Crypto, Forex, Stocks and more.
Natural gas looking to go higherSomething a little different than my main focus. Natural gas forming a text book cup and handle. Lets see if this will materialize into a bigger move.
Commodities are back, $UNG near breakoutThe natural gas ETF is forming a cup & handle with pivot buy at $31.60. This behavior signals a comeback for stocks in the gas industry.
Some of them are NASDAQ:NFE , which I was stopped out in June. NYSE:VET and AMEX:LNG . These 4 are in the top of my watchlist.
All are in confirmed uptrends and leading the sector. Several oil stocks also look good but I think that they are just following the gas stocks. I say this as the oil ETF AMEX:USO isn't as near of a new high as AMEX:UNG .
Look for stocks with gas exposure.
Cup and handle UNGtime to Buy UNG
cup and handle pattern
from a fundamental point Gas is looking to go higher there are not to much supply
Bullish on $UNG - $30 Strike for Calls 8/26 is goodUNG looking bullish, I am taking a $30 Call Exp 8/26
UNG - why didn't I dare to buy?UNG is really a leader that has fundamental reasons to be one.
But let's look at it technically- It was a inverted head and shoulders.
And there was an attempt to break the shoulder, but we got a strong reaction.
Was it possible to start a position there? I think it really MUST have been.
So, the price is gone, let's wait for more setups.
UNG Reversal time?Nice breakout so far.
Waiting for confirmation above 21, above that level could test previous highs.
UNG (Natgas) defying the ST trend in the energy marketsNatty has been dancing to the beat of its own drum lately while oil, uranium and xle components have been struggling. Elliott Wave is a tool I often use, but I still consider it esoteric in nature, and often difficult to read, so, reader beware. So, while the bottom may be in for Natty, at recent support just under 18, I suspect a re-test is coming, as well as a possible, even if unlikely, gap fill around 14.
$UNG Analysis, Key levels & Targets$UNG Analysis, Key levels & Targets
NatGas is starting to look very interesting again… what a monster drop today, though!! I will be looking to get into a position tomorrow… I’ll update here with whatever long position I end up taking…
I love trading natgas and it has been too long…
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as and if possible…
another rejection at the TL resistance, not good for longs >.<after a nasty rejection from trend resistance we can expect more downside, my targets are 28.85-25.76
