Hello team today Ng up or down ?
CFDs on Natural Gas forum
NATURALGAS Time to go long ehh !
NATURALGAS The market structure remains bearish on the 1-hour and 4-hour charts, although natgas is known for its abrupt corrections. Today, there was a remarkable 6% upward move from bottom to top!If the downtrend is to continue, then I will look for a short entry upon rejection from the next resistance area at 3.98–4.09. Once the price enters this zone, I will monitor for bearish divergence on the 1-hour chart as a signal for downtrend continuation. If no bearish divergence appears, it's possible that the uptrend might persist.
On the flip side, the price broke through the 3.88–3.87 support zone yesterday and fell as low as 3.75, a historical support level on the 4-hour chart. From this point, the price rebounded strongly today, reclaiming the 3.88–3.87 level, which is now invalidated as a resistance. If this same area is retested and holds as support (3.88–3.87), it could present a valid long entry for continuation.
Additionally, a strong breakout above the 3.98–4.09 resistance zone would invalidate any short setups in the short term.
To summarize:
I will look for either a rejection from the 3.98–4.09 resistance area to enter short.
Or, a retest and hold of the recently reclaimed 3.87 support to enter long tomorrow or Monday.
Good luck with your trades!
NATGAS Storage update: Net increase of +37 BCF. Overall storage is still below 5 years average. But injection is happening fast. So, by next couple of weeks this 5 years average deficit should vanish, unless there is some kind of disaster.
NATURALGAS Don't short next week confirm move up side min 4.3 or 4.9+ or more. 100% Confirm gap up on upcoming Monday.
NATGASUSD Bought puts at 3.9
NATURALGAS looks Like Donkey Green worried at these levels
NATURALGAS Sell natural gas at cmp 3.9200 Tgt 3.8400 SL 3.9650
NATURALGAS lol a very bearish report. Storage is only 5% below the 5 year average now, and we rally 😂 making the bears work for it! All Trump related pretty much, Tariffs on Canada etc.
The next 2 weeks are quite bearish too.
It's the Tariff talk causing short covering and big bears are quite committed yet.
Might squeeze some shorts before we continue down.
XNG defended the Daily 50ema, which is a key level for it. To see a sustained move down, you need that level to break.
NATURALGAS waited for a retest and rejection from the highs- turned out to be a full fledged bullrun for the day - I give up, not sure what to make of this market