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LNG Japan/Korea Marker (Platts) Futures

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JKM1! trade ideas

Australian LNG Producers in High-Stakes Talks to Avert Strike...Australian LNG Producers in High-Stakes Talks to Avert Strike Amidst Climbing Energy Prices Two prominent Australian liquefied natural gas (LNG) producers find themselves embroiled in crucial negotiations with unions, aiming to thwart a potential strike that could cast a shadow over global energy supplies. The looming specter of industrial action across three strategic locations in Western Australia has reverberated through the energy market, prompting a startling 40% surge in European natural gas prices overnight due to mounting supply concerns. These three critical sites, jointly owned by Australia's Woodside Energy and American firm Chevron, collectively contribute 10% of the world's supply while also constituting half of Australia's LNG output. Across Asia, the impact was palpable, as futures for liquefied petroleum gas on China's Dalian Commodity Exchange leaped by 6.7%, reaching Rmb4,276 ($597) per tonne on Thursday. Simultaneously, crude oil contracts in Shanghai experienced a 2.5% uptick, nearly reaching Rmb640 per barrel. In contrast, Europe's TTF benchmark gas price experienced a 9% decline, settling at €38.05 per megawatt hour on the same day. Warren Patterson, Head of Commodities Strategy at ING in Singapore, noted that most of Australia's natural gas supply typically flows to Asian buyers. Should the strike continue for an extended period, it could lead Asian buyers to explore alternative sources, intensifying competition with European buyers. Unions representing approximately 700 workers from Woodside and Chevron have sought "protected action ballot orders," a move that grants them the right to conduct votes on potential strike actions under Australia's Fair Work Commission. Negotiations, focused on issues such as pay rates, job security, and working conditions for offshore gas workers, continued between the Offshore Alliance union and the two energy giants. While the negotiation stages with Woodside and Chevron vary, prospects of industrial action loom large toward the end of August, potentially extending for months if resolutions aren't reached. Recent history serves as a reminder of the potential consequences, as a 76-day strike at Shell's Prelude facility last year resulted in a staggering A$1.5 billion ($980 million) loss in production costs. The union negotiators cite this example as a testament to the tangible impact of their actions. Brad Gandy, spokesperson for the Offshore Alliance, emphasized that members are striving for a fair and reasonable agreement, aware of the substantial financial implications that protected industrial action could impose on the export of Australian gas. Both Woodside and Chevron are prepared with a range of contingency plans to mitigate supply disruptions. Woodside reassured its commitment to secure energy supply and employee security, while Chevron reiterated its ongoing efforts to find mutually beneficial outcomes. As the energy market holds its breath, the outcome of these high-stakes negotiations could indelibly reshape the trajectory of global energy supply chains, reverberating across continents and industries alike.
NYMEX:TTF1!
by FOREXN1
5
NATGAS Breakout, Testing ResistanceNatGas is up +7% this morning as price has breached local resistance near $2.90 and testing long-term resistance near $3. Should price beat the $3 level the next move will likely be up toward the 200-day moving average which rests near $3.40. The PPO is reading short-term bullish momentum with the green PPO line crossing up through the purple signal line after both lines held above the 0 level on a recent pullback. Both lines trending above the 0 level indicates intermediate to long-term bullish momentum. The TDI indicator shows the green RSI line trending above the upper Bollinger Band and rising above the 60 level which both indicate short-term bullish trend. Generally, you want to remain long when the RSI line is outside of the upper band, and when the RSI is rising or trending above the 60 level. Overall action in the RSI has been trending between the 40-80 levels since May which is a sign of intermediate to long-term bullish price trend. Overall view on NatGas price is bullish with more gains expected as we head into fall/winter when demand tends to increase.
NYMEX:NG1!Long
by PrepForProfit
Nat Gas an Expanding Wedge offers an upside bias Mixed and volatile trading has resulted in an Expanding Wedge formation being posted on the intraday chart. This pattern has a bias to break to the upside. On a break through 2.656 the measured move target is the previous swing high at 2.794. With bespoke resistance located at 2.621, there is ample scope for a corrective dip to the downside before the impulsive rally begins. It should be noted that with a confluence zone located at 2.847, we could extend higher and the initial target level.
RUS:NG1!Long
by IanColeman
1
Bull flag or bearish channel?I don't know. Could be a bearish channel. I mean.... 1. Half the world is on fire right now. 2. Europe is seeing record heat with no end in sight. 3. 1/3 of US has heat warnings 4. Some little Mexican guy named El Niño wants to kill us all 5. North Atlantic surface temps never been this high 6. In Phoenix, you can fry an egg on your wife's ass 7. All the idiot tech bro's that moved to Austin from San Francisco now regretting it. breaks 2.70ish = gap fill to $3
NYMEX:NG1!Long
by sonidofranko
2
NatGas: Take-off 🛫The price of NatGas has gained significantly again since Friday and could thereby move further away from the support at $2.48. Thus, we assume that it has already left the white wave (2) and is ready for high flights. For the white wave (3), it must rise significantly above the resistance at $2.75. After the completion of this wave, we expect a small correction and then another significant rise in the form of the white wave 5. Hence, we see a lot of movement on the upside at the moment. However, it should be noted that there is still an alternative scenario with a probability of 28%, which occurs if the price now falls contrary to our expectations. Then it would first have to fall below the support at $2.48.
NYMEX:NG1!Long
by MarketIntel
Bob assignmen: Tesla Natural Gas7.27.23 In this video I tried to show how Tesla is likely to move lower even though it corrected higher to a 382 level and it also retested a gap lower..... in other words it's likely to go lower even though it has had Corrections higher. Follow it and paper trade It so you become familiar with markets that don't look so good until you know what a good market looks like.... but you don't want to start trading this until you develop A comfort level because you've seen it work two or three times first.... before you plunge into the water with fear because you haven't let these behaviors sink in first. It's much easier to follow the paper so you're not focused on the fear of loss. You're constantly fearing that you will lose it's your way of telling you that you don't trust you're analysis... but you're willing to be afraid. You shouldn't do it this way. The next market Is natural gas which is already started moving higher Suggesting that this is going to be a good long-term trade Because of all the failures to make new lows..... so the market May correct lower and it may be a little difficult to decide if you're going to take a trade where the market is today... and by definition you're not going to pick the very bottom because that happened Weeks ago.... but this will probably develop into a good swing higher.... A good market to follow for the right trade location to go along.
NYMEX_MINI:QG1!
by ScottBogatin
NG1! Is Bearish! Short! Here is our detailed technical review for NG1!. Time Frame: 5h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 2.667. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2.574 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
NYMEX:NG1!Short
by SignalProvider
12
NATURAL GAS Buy lower, sell the break-outLast time we looked into Natural Gas (NG) we called for a buy entry (see chart below) right after the contact at the bottom (Higher Lows trend-line) of the Bullish Megaphone: The 2.550 target has been hit but the rise didn't stop there, breaking even above the former 2.690 Resistance and making a Higher High in the process. The price is right now above the 1D MA50 (blue trend-line) but in terms of Risk/ Reward neither a favorable buy or a sell. We are willing to buy at 2.400 with a tight stop just below the Megaphone's Higher Lows trend-line and target 2.800 (below Resistance 1). If a 1D candle closes below the bottom (Higher Lows trend-line) of the pattern, we will sell and target the 1.950 Support. The 1D RSI is trading inside a Channel Up pattern. If broken, it will be a first confirmation of a bearish break-out signal. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:NG1!
by TradingShot
1