#XNG #NaturalGas waiting to retrace. Price got Bullish Divergence with both RSI and MACD, TP first target is #Ichimoku Tenkan Line (Red) at 2.1X, 2nd target at Kijun Line (Blue) at 2.5X, 3rd target at POC volume profile at 2.6x (Red dash).
NGAS trade ideas
Long NatGas from Bottom .016 fib and lux algo agreeSummer AC consumption and exports will drive price up as global warming hits harder and harder and LNG goes online globally
Natural Gas, Elliott wave analysisOutlook for Natural Gas on 12h chart.
There have been no changes since the last update.
I think we are on sub-wave 5 of wave C.
If the assumption of this scenario is correct, Sub-wave 5 will be completed soon, and Upper-degree wave (c) will be started.
Last time my idea.
■Jan 30, 2024. Short-term analysis.
Natural Gas Prices Recover from 3.5-year LowsNatural Gas Prices Recover from 3.5-year Lows
As the chart shows, the price of XNG fell below 2.040 on January 31 for the first time since August 2020. This was facilitated by:
→ seasonal trend, because towards the end of winter the price of natural gas tends to fall;
→ weather data. Temperatures could remain above average and snowfall amounts will decrease across North America, according to the U.S. Climate Prediction Center and AccuWeather.
However, the chart shows signs of increased demand:
→ the RSI indicator forms divergence;
→ the bears were unable to reach the lower boundary (shown on the chart) of the downward channel.
Signs of increased demand could come from short covering after the XNG price fell by more than 25% this year, as well as sentiment ahead of the release of news on gas reserves (today at 18:30 GMT+3).
It is possible that the news release will provoke even greater demand activity, and the XNG price will reach the median line of the shown channel.
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Natural GAs bulls defending the lowsNat gas closed positively today in a weak market.
The importance of this close is it was a close above yesterdays high. Showing some potential near term momentum .
If Nat Gas can closes above the resistance trendline we could see a retrace to $2.50.
Looking for a weekly bottoming tail on Nat gas to confirm a local bottom.
Natural Gas, Elliott wave analysisOutlook for Natural Gas on 1D chart.
I think we are on sub-wave (b) of wave B.
Sub-wave (b) may be pulled back to sub-wave (a)'s Fibo level 78.6 to 90% or it may already be completed too.
If the assumption of this scenario is correct, Sub-wave(b) will be completed soon, and Sub-wave (c) will be started.
Sub-waves of wave (c) will form a five-wave Impulse or Diagonal.
Natural Gas - Live market update
Natural Gas making support at 1-30-24 1:21 AM. Other candles for today are 1-30-24 5:47 AM
1-30-24 10:13 AM
1-30-24 2:39 PM (Pivotal)
1-30-24 7:05 PM
1-30-24 11:31 PM
1-31-24 3:57 AM
Levels: Sell Below and levels 2.05 1.40 0.87 0.46 0.19
Buy above and levels 2.23 2.42 2.83 3.73 4.76 5.91 (Long term)
Disclaimer: I am not a Registered Analyst with any of the National/International Agency. Please consult your financial advisor before making any decision. This is only for educational purposes.
NATGAS is on its Way to New LowsThe price of NATGAS remains surprisingly weak despite the ongoing geopolitical conflicts. Considering the upcoming start of spring, the market is expected to reach new lows.
In order to open a short position, we want the market to continue to rise in order to achieve an optimal risk/reward ratio (RRR).
The trading idea presented offers an RRR of around 3:1.
NATGAS ContraContrarian scenario where this actually deserves or gets a little bit more of a push above, unless we are in just another correction formation. For the long setup to hold and to be considered, a bounce from a curve needs to happen with a precise candlestick setup right at one of the curves, for example where the green circle is, bouncing from the white curve and continuing on the green path towards the red.
All curves are potential support and resistance formations, projected in time, but the price might just hold on to them in magnet mode creating a wave along one of them. I have been playing around with this concept, with forward testing instead of back-testing, so it will be interesting to see how this project unfolds. (/anyone interested in those experiments can check the tube or X).
If the bullish sentiment does not hold, and the curves are broken below, a shorting opportunity might appear, with a bounce on the flip from any of the curves, example highlighted in the scenario with the purple path.
Nat Gas is testing Support line - Expecting a soon rebound !Daily chart, Nat Gas is testing the Support Line S, and it should rebound to trade inside the orange channel for some time before breakout. Then, the target will be 3.45
Stabilizing above 3.45 for 2 days, the target will be 4.30
Be careful - watch the Support line S and consider a suitable stop loss level.
Natgas accumulation Price currently in a possible accumulation phase. It seems like we have a common low on this instrument. Do the Bulls have the strength to break the accumulation phase and beat the down sloping trendline? we will look at lower timeframes to take a microscopic view and read momentum using pure price action. Change in polarity is when support change to resistance and resistance change to support once violated.
NATURAL GAS LONGTrying this buy.
Good risk/reward.
Probable trend reversal.
I go in staggered on the 2 fibonacci levels, with same stack, trying to optimize entry.
Do your own research.
No financial advice. Be cautious.
NATGAS - Upper LongWe are in demand area in oversold. I suppose a new long wave until minor supply area
XNGUSD Bullish divergence + Support on DalyPrice is resting at support and bullish divergence can be seen on Daily Timeframe. Swing trade
Natgas UpdateAnswering requests and attempting to make the analysis more useful, I begin providing boxes instead of specific structures where there is no certainty about the shape of the incoming wave (on top of the uncertainty that I am incorrect about the course of action).
I'm doing this to create a product that will meet your needs, and to avoid giving a false confidence about where the price may go next.
Please leave a comment if you have any suggestions for additions. Perhaps a link to a library of possible wave shapes?
Nat Gas looking for a final push down to 150? Nat Gas had a nice long trade off the low but did not hold . Ill be watching for a retest of the break down and failure down to 150.
XNGUSD, Daily
Natural gas is moving in a confirmed downtrend, being pushed by a lack of demand and short selling. The level of $2 is considered a fair price according to the STEO forecast from the Energy Administration of the United States, so this level might be used as a target.
Bullish Outlook: UNG Prices Surge Amidst Anticipation of Record In the wake of widespread winter weather last week, the volatile natural gas futures front month, specifically the expiring February contracts for UNG, are witnessing a robust uptick.
Traders are eagerly anticipating a potentially record-breaking storage withdrawal, adding fuel to the bullish sentiment.
The market's sharp rebound in early trading on Thursday reflects the optimism surrounding the impending storage pull, setting the stage for a significant uptrend in UNG prices.
Investors are closely monitoring the situation, poised for potential gains in the midst of evolving market dynamics.
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Flush and pump!Last Friday eve,I was checking this chart and the flush seemed to be on the cards..it happened..reaction has been monitored and now bullish momentum in the breaker box needs to be seen...Risk management..GL
NATGAS FORECAST Q1 2024 : PRICE HIKE ANALYSISWas requested so i just technicaled it ya know
my leads wouldnt want me to say more
Natural gas short, short term, then bullish longterm. Looking at a cycle analysis and elliot wave pattern it looks like the natural gas is going to go down in a wave 5 during february and mars. Looking at the cycle analisys and at the fib levels it also adds up.
I think that the biggest players wants to grab as much liquidity as possible before entering long again, and is therefore pushing down the prices. If you look at the volume it also looks like that.
The winter was warmer than expected and it isn't going to be much colder or hotter in the next few months due to the global warming. This summer will probably hit new records of high temperatures which will drive up the prices again.
This is only what I think, also analyse at your own of course.
