Natural Gas is Begging for a Relief RallyThe persistent decline in Natural Gas prices may find some buyers, with nearby support levels acting as a possible catalyst for a relief rally.
Given the oversold conditions, the next support level may present an opportunity for a relief rally. However, it’s important to note that this does not guarantee a full reversal in the trend.
If the relief rally materializes, it’s possible that we may see one final leg down, as traders take profits and stop losses are triggered. Only if the price action shows RSI divergenceon the Daily, I would watch for a reversal pattern to the upside.
NATURALGAS trade ideas
NATGAS - 4HGas is in a downward trend in the time frame of Wednesday. If the downward trend line is rejected again, we have the possibility of a further decrease for gas.
long natgazzbig confluance area
.886 correction on 1W
rsi oversold territory
yellow ABC correction close to end at 1-1
it1s time
Natural Gas looks interestingTake a look at this Nat Gas chart. It looks poised for a rotation of capital to come out of the SPY and buy it at these depressed levels.
Natural Gas: The Widow MakerNatural Gas is on pace for it greatest & fastest fall in price history.
Nat Gas is hitting technical support in one of the most oversold conditions ever.
We discuss some Nat Gas cycle history that may be useful in knowing how to trade Nat Gas.
Natural Gas Outlook Short And Mid TermVery weird things are happening in the natural gas space. It might be getting ready for the biggest short squeeze.
NG key levels for the next weekI am anticipating to see a retracement into weekly range which mentioned with Fib levels from last week high and last week low during first 2-3 days of the week and then sell off to last week low, if it breaks last week low anticipating the price will aim to reach monthly key level, if it doesn't break most likely will consolidate between last week low and new week high.
Road Map For Natural Gas?I did the best I could with the count. Please share your take on natural gas if you could. Thanks for the view.
Natural Gas - Long viewElliot wave analysis of natural gas with long term support around 2.30. Long position can be taken around this level.
NATURAL GAS-Pt.2- Short term bounce?In our previous post we explained how we believe that NaturalGas is ongoing an ABC correction from 9.995's top. Actually we believe to be finishing wave iii of C of this zig zag, as showed in the chart.
As explained in the previous post, we were waiting for the small red zone in chart between 2.4 and 2.5, where the algo tp of the whole move down and the level for which wave iii of C = 1.618 wave i of C, together with the target of the big head and shoulder pattern stand.
Since today we wicked that zone, we opened a long position at @2.471, and we are currently holding it with stop loss on entry.
Since the retail sentiment is still very extreme towards the long side and since this wave iii can still extend down, we are carefully posing our stop loss on entry. Target is 4.32. We will update below. Happy trading!
NATURAL GAS-Pt.1- Correction about to complete?Hello traders,
here is our view about natural gas.
As we can see from the monthly time frame, natgas completed an impulse after breaking a big descending triangle.
After reaching a top of 9.995, natgas created a head and shoulders pattern that coincided with a 535 structure to the downside, as showed in the main chart.
Then, wave 3 of C seems to be completed with an ending diagonal.
If the bullish macro count is in now we should go for another impulse up. Alternatively, we may get a (C) wave to complete
the monthly retracement higher than 10. In the latter case to move to 9.995 would only be a (A) cycle correction of the descent from 2005 high of 16.477.
In both cases, we expect a big buying opportunity coming soon in natural gas.
We are not taking long positions now for wave iv of C since sentiment in retail brokers is over 90% long.
When ALL the retailers are buying, who is selling to them? Who is gonna buy to actually put upward pressure on price?
This is why extreme sentiment is a contrary indicator.
We will update as soon as we see a long setup.
Looking for good r/r in NatGasTrade Idea: Buying Natgas
Reasoning: Price action posted a new low yesterday, however afternoon price action reacted higher forming a bullish hammer candle on the daily chart. The overnight pullback has stalled and reacted higher at the Ichimoku cloud base. Buying offers great risk/reward after a monster selloff.
Entry Level: 2.862
Take Profit Level: 3.20
Stop Loss: 2.74
Risk/Reward: 2.7:1
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NATURAL Price hit the monthly support. A bounce on way.Price hit the monthly support. There will be good bounce from here at least to the level marked as first resistance. There will be a pullback there before deciding the further course of price action.
Long entry set up on Natural GasWhile natural gas has sold off in dramatic fashion over the last couple of months, a swing trade presents itself with a great entry at support.
Since entering an upward sloping wedge in July 2020, Natural gas has completed a 5 stage Eliot wave in typical fashion, an ABC correction and now potentially in a corrective 1 -5 Eliot wave move having lost the wedge trend.
The asset is in oversold territory with the RSI falling below the 30 level on the weekly, selling volume profile at peak levels in weeks but stalling on the $2.6 level which acted as resistance in Sep, 2019 and support more recently in April, 2021.
Anticipating a level 4 Elliot wave form with a technical target of $3.5 , potentially a 31% upside .
Ref :
CAPITALCOM:NATURALGAS
LONG call on Natural GasHi All,
Natural Gas had a really harsh retracement in recent weeks.
It is currently oversold on all indicators. Already completed an ABC corrective move.
Perfect entry would be 2.5 $ but we can start dca even from current levels.
TP2 : 7 $
TP1 : 5.25 $
SL : 1.9 $
Risk/Reward : 7.5
Good luck & have fun :)
