Natural Gas (NGS) / US Dollar forum
NATURALGAS near a strong buyer volumetric orderblock from the daily chart, even though today price closed negative this was within the normal retracement range from the previous swing high with price indicating a higher low at 1h and 4h charts and rsi + obv pointing upwards during the close of the session. From a technical perspective we are near an optimal area for long entry where bears show signs of exhaustion at the daily, 4h and 1h charts when we observe the regular bullish divergences formed between the previous dips.The fundamentals are not aligned with the technicals though as weather forecast continues to stay mild and production reports are expected to be bearish (Robpoll thanks for the updates!).
The previous resistance at 2.65 held on Monday and price bounced upwards, today we have a higher low and heavy bullish volume concentration at the current price level. Given the current sentiment I maintain a bullish bias for the upcoming sessions and will be looking for long entries with volume and momentum confirmation if price starts making higher highs in intraday chart 5m/15m the following days.
NATURALGAS to the moon
NATURALGAS Break out the shorts. 21C ☀️ Whatever the heck that is in the weird non-metrics, don't ask me.
NATGAS I'd be expecting another rally, potentially a good one.Production today hovering at 102.6bcf, same as yesterday. Early estimates for tomorrow's flows are exceptionally low at 100bcf, they'll likely get revised a bit higher.
Exports up to 14bcf, up from yesterday's 13.3bcf.
Demand including exports steady at 100bcf.
We could see some sort of liquidity sweep then buyers stepping back in to take us up.
If we see a strong leaning towards a presidential candidate, I'd expect the market to try and price that in.
Watching the US dollar will tell me what the market is expecting.
Weak Dollar = Harris
Strong Dollar = Trump
NATGAS Are you guys ready for a -10% day?
NATURALGAS $3.3 before December 1 - putting my TP there
NATURALGAS very high volatility within the next few days its not really rising because of news its rising because of the election its going to go crazy these next few days be warned
NATURALGAS Trend id down overall...again.. i could be wrong
NATURALGAS If it goes up this much start of the week.. id expect because it wants to close lower rest f the week.I am short so i am biased, but the trend is down and the weather is warm.
NATURALGAS Wonder if this jump will just fade over the week, although the price closing at day high is not a good sign for bears.