NATGASUSDXAUJPY while ngas was not too exciting, I have closed a broke out trade on gold/jpy just now. Anyone interested about the trade and explanation? again 10 rockets I will make a short video. Once again thank you for the support :)
NATURALGAS downtrend 1h, pullback from uptrend 4h near support, pullback from uptrend 1d between 20-50 ema, oscillators pointing down across the three timeframes without a clear sign of bullish divergence with price. If you are short at these levels best trail your profits possibly using 50 ema at 1h. Ideally I wish to see a pullback near previous resistance around 3.60 and a clear rejection from there with volume to enter short, currently the price is overextended and between 3.40-3.25 we have support at 4h. There is a possibility for price to reach 3.25 before we see a substantial pullback given the existing short term downtrend since momentum and market sentiment oscillators are now bearish also at 4h and 1d.
NATGAS Production today dropped from 103.5bcf to 102bcf, a significant drop. Very volatile. Exports are calling af 15.6bcf.
Demand including exports is 165bcf.
As far as the models and forecasts are showing, Last week of Jan and the 1st of Feb will mark a decent turn in the weather. Although it might be against the trend a bit, I still believe any rally is an opportunity to build a short position.