After the second quarter relief rally and the five-month peak, Natural Gas registered a four-week decline. This has shifted bias to the downside again, creating scope for further losses towards 1.940. However, a look at the daily chart shows that NGAS tries to react at the lower border of the Ichimoku Cloud. Furthermore, a Golden Cross (EMA50 crossing above the...
Natural gas bounced from a low of $1.95/MMBTU, where almost all producers lose money. Since natural gas and crude oil are near or below breakeven levels, producers are reducing their drilling rate - likely lowering production levels given the lack of capacity. The negative shift in weather, falling rig count, and potential export boost from Freeport may push...
Natural gas in the US is collapsing. In part this has to do with LNG exports to the rest of the world being halted due to a fire to one of the export terminals. However in my honest opinion, there is more to it. It probably has to do more with the deflationary forces taking over, as high interest rates, money supply shrinking and inflation being too high, have...
CEIX is leader in the coal industry. Trending. Look for entry points along the way. Tradingview has a nice feature to paste images so I will try it out. The image is a weekly view of the DOW JONES COAL industry. A weekly breakout from a pivot point exceeding the past 8 weeks. You don't need to know what's going to happen next to make money ~Mark Douglas Lose...
#WTI crude oil looks like it wants to bust above the channel again. It did just that recently but got shot back down. MACD histogram on its way to green, lines curling up for a bullish MACD cross. and RSI has already tested 50 and appears to be holding, signifying strength. I'm long oil, but it will be volatile with all these wacky headlines every day that...
The technical figure Channel Up can be found in the Spanish company Endesa, S.A. (ELE.mc) at daily chart. Endesa, S.A. is a Spanish multinational electric utility company, the largest in the country. The firm, a majority-owned subsidiary of the Italian utility company Enel, has 10 million customers in Spain, with domestic annual generation of over 97,600 GWh from...
So many technical and fundamental indications revealed that Natural Gas prices are gonna drop from a high offer zone "$9.5 - $9" confirmed by " Oderflow Analysis" to the high demand zone "$7 - $6.5" . And this is supported by some of the following fundamental reasons , Such as The fire at the Freeport LNG facility is expected to reduce demand by two-billion...
Bitcoin has been on a downward spiral since Elon Musk described it as 'fossil fuel powered' and saying that for that reason, Tesla won't be willing to accept Bitcoins. You could argue that Bitcoin was due for a correction in any case - this has been one of the longest week-on-week rises in Bitcoin's history: 16 weeks straight up from $10.5k to $41.9k, followed by...
Oil is falling back down to major near term support around $21.50 per barrel it cannot hold the $25 level today which is an important level in the short term. The 4-hour chart is showing us that it could be a lower head & shoulders forming. Not my favourite charting pattern but the technicals are showing that this level has enough buyers to complete the pattern....
A couple months ago, WPX Energy announced that it was raising its production forecast for 2020 and will initiate a dividend sometime this year. The share price appropriately rocketed to $14 or so. Over the last few months of weak oil prices, it's come back down to as low as $11.50. However, it's now making a rounding bottom, with oil prices strengthening thanks to...
"Speculators are people with better than average foresight that step in as buyers when there is an excess in supply, store commodity, and then release the commodity when there is a drop in supply (or rise in demand)" (Nicholas Kaldor, economist) Here, there is the possibility of profiting from having this better than average foresight. Simply looking at the truth...