NGAS hopefully will hit 3,7 during the weekend and will correct back to 3 during the next week , by the end of the month will hit 4,3 again thanks the new trump tarif and what is coming on with ukraine a RUS war
NATURALGAS short term uptrend across timeframes for the time being but 4h shows loss of momentum short term and long term, 1h shows loss of momentum short term but still increasing momentum long term, daily might be near pivot point. We have some interesting key levels to pay attention to. 1h: support at 3.33-2.25, with possible resistance at 3.49 and 3.56-3.62j. 4h: support at 3.36-3.31 (bullish orderblock) and dynamic support 3.10 which could act as magnet if the bullish orderblock breaks. Possible resistance at 3.46 and 3.53-3.63. 1d: dynamic support at 3.00 and resistance (bearish order block) 3.82-3.93. So then, for a confirmation of further downtrend move I need to see a breakdown of the 3.30 key level and then will set my TP at 3.25 and 3.10. Otherwise we could have a test of the highs near 3.50 and rejection of that level with TP at 3.33-3.35. For a bullish continuation, we might need to see price reacting from3.33-3.25 some kind of double bottom at 1h with renewal of bullish momentum. If 3.31 breaks down we should be careful because it could be a fake out for liquidity grab since there's dynamic support at 3.25 which is also a psychological level. Overall, it appears that for the time being we have mostly bullish momentum which is counterintuitive because Feb/March are typically bearish given the fundamentals so any trades long/short should be taken as intraday opportunities for the time being.
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🔹 Weekly Macroeconomic Commodity Report (Excerpt)
This week’s analysis dissects fundamental strength scores, macro positioning, supply-demand imbalances, and institutional positioning across the biggest commodity markets.
🔥 Crude Oil (Neutral to Bearish Bias – 5/10) • OPEC+ remains committed to supply cuts, extending production limits through 2025, but the market remains well-supplied, with the U.S., Brazil, and Canada adding 1.5 million barrels per day. • The IEA forecasts a surplus forming by mid-2025, as global supply outpaces demand. If this continues, oil prices could face downside pressure unless OPEC+ tightens further. • Geopolitical Risks: Russian sanctions and Middle East tensions remain, but no new major disruptions are currently threatening supply.
🔹 Key Trading Takeaway: Oil remains range-bound for now, with a stronger USD and trade war risks limiting upside. Institutional traders are reducing speculative long positions in oil as the market structure softens.
🟢 Gold (Bullish Bias – 8/10) • Central banks continue to accumulate gold aggressively, with total purchases exceeding 1,000 tonnes over the past three years—a massive vote of confidence in gold as a reserve asset. • The Federal Reserve’s pause on rate hikes keeps real yields stable, which is bullish for gold as it remains an attractive hedge against economic uncertainty. • Macroeconomic Positioning: Slowing global growth, persistent inflation, and geopolitical risks are keeping demand for gold high.
🔹 Institutional Positioning: Hedge funds are adding to gold longs, and ETF inflows have turned positive after months of outflows—signaling increased investor confidence.
🔹 Key Trading Takeaway: Gold has strong long-term tailwinds, and any pullbacks are likely to be seen as buying opportunities.
🔥 Natural Gas (Bullish Bias – 7/10) • Winter demand remains strong with colder-than-expected temperatures in the U.S. and Europe. • Europe’s gas storage is down to 59%, much lower than last year’s 75%, meaning strong demand for LNG imports in summer. • U.S. LNG exports remain at record highs, supporting natural gas prices.
🔹 Key Trading Takeaway: Fundamentals remain bullish near-term, but summer demand for refilling storage will be the next catalyst to watch.
🔴 Copper (Bearish Bias – 4/10) • China’s Manufacturing PMI fell to 49.1, signaling continued weakness in industrial demand. • Global inventories remain high, with LME stockpiles holding steady and new supply coming online. • The U.S. and China’s trade tensions are escalating, which could further limit global manufacturing growth and hurt copper demand.
🔹 Institutional Positioning: Hedge funds have reduced net long positions in copper, signaling that investors lack conviction in an immediate recovery.
🔹 Key Trading Takeaway: Copper remains in a structural surplus, with demand growth lagging supply increases. Until China launches meaningful stimulus, copper may struggle to gain momentum.
🟢 Silver (Bullish Bias – 7.5/10) • Silver demand is at a record high, driven by industrial growth in solar, EVs, and 5G technology. • The market is running a supply deficit for the fifth straight year, meaning demand continues to outstrip new production. • Silver inventories are at multi-year lows, with COMEX vaults seeing steady withdrawals.
🔹 Key Trading Takeaway: Silver has one of the strongest supply-demand imbalances, making it highly attractive for long-term accumulation. The next leg higher could come if inflation fears re-emerge or industrial demand strengthens.