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IDX PGAS : ELLIOTT WAVE ANALYSIS EXPLANATION AND HOW TO USE IT.ELLIOTT WAVE HAVE 5 WAVE BEFORE DO HIS CORRECTIVE WAVE, PGAS CURRENTLY IN WAVE 3 TO 4 ELLIOTT WAVE, WAVE 1 - 2 ALREADY VALID @0.618 ELLIOT WAVE, WAVE 2-3 VALID 1.618 WE HAVE TO WAIT THE SECONDARY REACTION OF WAVE 3 - 4 @0.382 AND WE CAN ENTER AT THAT POINT WITH BULLISH HARAMI CANDLESTICK (THE INSIDE BAR) OR HAMMER, ENGULFING WHATEVER IT IS FOR THE ENTRY AND WAVE 4 - 5 LENGTH HAVE TO BE SAME WITH WAVE 1 - 2 (AB = CD) WE CAN MEASURE WITH FIBONACCI EXTENSION (HARMONIC PRICE PROJECTION) FROM WAVE 0 = A - WAVE 1 = B , AND THE WAVE 4 = C WE CAN SEE THE PRICE WILL STOP AT 2185 AFTER REACHING THAT POINT SHOULD BE A CORRECTIVE WAVE THIS IS A TUTORIAL OR A SIMPLE WAY TO KNOW OR USE ELLIOTT WAVE NO POINT OF ENTRY! JUST A LESSON FOR WAVE ANALYSIS
IDX:PGAS
by RupinGoh
ridethepig | NatGas Finding a Floor📍 Natural Gas The proud floor - such is the name sometimes given to support - is a useful weapon in the hand of buyers. And yet for a time, I toyed with the idea - a seasonality one, I must admit. We cannot simply dismiss the deep examination; namely the elements and the strategies involved in trapping our opponent. For example, the fake breakdown and slingshot restraint. I have decided that the advantage is with buyers and can be seen in the elements: Buyers are coming in and preventing the loss of 2.5 and slowing down the said decline. The reason is clear, demand is ticking up and cancelling out the artificial dollar devaluation. We will use the fake breakdown as our invalidation level, as long as we are ticking above 2.38x we can continue to work longs. It is scarcely possible to set down on paper all the various maps in which the end game of a cycle can be unpleasant. But I will try to mention briefly all of the most important ones. A round of chart updates will continue over the coming sessions and days. Thanks as usual for keeping the feedback coming 👍 or 👎
NLong
by ridethepig
11
Long $USOIL $GUSH $XOPFrom the NYT : "Under the agreement, members of the Organization of the Petroleum Exporting Countries along with Russia and other countries will increase production by 500,000 barrels a day in January and, potentially, by a similar amount in the following months. The increase, less than 1 percent of the global oil market" From WSJ : "The price rout has also laid low big, publicly traded oil companies like Exxon Mobil Corp. and Royal Dutch Shell PLC, triggering big losses and job cuts. Shell and BP PLC both recently cut their dividend for the first time in years to preserve cash. Chevron Corp. on Thursday said it was joining peers in slashing spending." Oil companies are an important fixture in all of the most powerful countries in the world. While I fully recognize that the oil industry is a dying one, the financial stress that the majors are currently under is causing them to be undervalued relative to their integration, importance, and efficiency at this point in time. Higher oil prices from where they currently are is in the best interest of every major economy. It is a perfect time to make this happen given the effectiveness of the almost-approved Covid-19 vaccines. Just an idea!
FX:USOILLong
by jfs2152
NG: UNG: boil: Natural Gas Looking for a Bottom - Mid DecemberNatural Gas futures dropped disproportionately to fundamentals on lower national demand in the first half of December and slightly higher recent production. However, NatGasWeather forecasts for the storage draw covering next three weeks are not as bearish as the drop in gas prices. LNG flows are consistently bullish exceeding 10.5 bcf/d. The fundamentals are still strong. It seems that bullish traders are waiting for colder weather patterns to settle in before driving prices higher. If we get the forecasted warming next week, the prices may go lower. Expected trough at around December 9-12. Technicals: The 4 Hr chart is oversold. Yet, this condition may persist for another week. The double bottom is more likely before going higher. Per NatGasWeather Report: EIA Weekly Nat Gas Storage Report Outlook: EIA Weekly Report Week 1 – December 10 -70 to -80 Bcf Slightly Larger vs Normal Draw (Nov 27-Dec 3) Week 2 – December 17 -80 to -90 Bcf Slightly Smaller vs Normal Draw (Dec 4-10) Week 3 – December 23 -85 to -100 Bcf Slightly Smaller vs Normal Draw (Dec 11-17) NatGasWeather.com Forecast 5-Year Average -61 Bcf -105 Bcf -127 Bcf
NYMEX:NG2!
by tradexchart
ridethepig | Natural Gas Breaking Out!A nice swing cooking right on time for December seasonality flows to kick in. This leg higher threatens the sacrifice of resistance and creates freedom to manoeuvre towards $4 and $5 in 2021. We have a similar sized move cooking in energy to the leg we traded in Oil, only this time round the swing we are tracking is to the topside. See for example the following breakdown we traded in Oil; In the ST, play with the flow and continue ride the leg higher towards something like +/- 3.5 and 4.0 as the extension. Sellers are quite paralysed. For the MT and LT as we know, the philosophy of transition towards a 'Green new Deal' or 'Build back better' in such a short period of time constitutes a pipe dream. Already power grids are coughing badly with so much activity from lockdowns and more people at home, the theory that we will all be driving electric cars and etc looks quite far... one cannot rebuild energy without great difficulties is important to understand. Thanks as usual for keeping the feedback coming 👍 or 👎
NLong
by ridethepig
1
NG: UNG: BOIL: Natural Gas Oversold, Roll into January ContractNatural gas futures NG moved higher as it started rolling into January contract on Nov 20. Technical conditions are oversold on 4 hr chart. We have an unfilled gap at $3.1 level, a possible target for an upside move. Weather forecasts into early December are less bearish than last week, but still alternate shots of cold air with periods of warming. Next week EIA report is expected to be on a bullish side, a draw of about 20 Bcf, as demand exceeded supply for the period ending Nov 18. Expecting a gradual move to higher prices, unless weather forecasts change showing more cold temperatures coming.
NYMEX:NGF2021
by tradexchart
NG: UNG: BOIL: Natural Gas Looking for Support NG: Natural gas NG contract may find its support at $2.6 level before moving higher into January contract. Prices dropped on warmer weather forecast Nov 18 -Dec 2. From technical perspective, NG is approaching oversold condition on 4 Hr chart. Lower prices are still possible due to bearish EIA report on Nov 19, as built is expected on the backdrop of low demand through November 20. However, roll into January contract Nov 22 - 25 may provide support for this transition into colder temperatures starting first week of December. Should NG start rolling into January as early as November 19, the dip may not be a slow as expected due to warm weather.
NYMEX:NG1!
by tradexchart
$RSSV PT of .50-$1.50+ Based on Valuation and Upcoming CatalystsO/S of 109,000,000 Float of 32,000,000 $24 Mil in assets+$18Mil-$11 Mil = $31 Mil valuation/109.9 Mil O/S = .283 Stock Valuation x PB Ratio of 3 = PT of .846 PPS The company has real assets, products, sales and patents. A pending acquisition worth $18 Mil in assets and $11 Mil in liabilities. They have 311 Oil and Gas production products, 30 Coal products and 251 Healthcare products. Also upcoming fins next week. This thing went from .035 to .60 in 3 days last time on news in July, I anticipate the next news to drop will do the same here especially with the chart buildout it has now. Will continue to add under .10 for possible .50-$1.00 move.
RLong
by StockGuild
NATURAL GAS Long-term Buy SignalPattern: Channel Up on 1D. Signal: Buy as the price bounced on the 1D MA200 which has been holding and acting as a buy entry since March 31. Also the RSI bounced on its multi-month Support level. Target: 3.350 (right below the Resistance). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> seba26-77 --------------------------------------------------------------------------------------------------------
NYMEX:NGZ2020Long
by TradingShot
Natural GasAt Natural Gas, I found a very attractive chart. This is interesting to me. I found the highest performance back to the date 12 December 2005, with 16.475 points and the lowest performance on the date 18 February 1992 with 1093 points. I see a powerful movement every day with strong direction and seems not affected by the pandemic. Amazing. At this time, I need to watch on my watch list at moment. And when it comes to the best moment, I will make an excellent transaction for the long term.
NLong
by RyodaBrainless
1
NATURAL GAS Still some downside left before recoveryPattern: Channel Up on 1D. Signal: Buy on the 0.500 Fibonacci retracement level. Target: 3.350 (just below the Resistance). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> TradingView --------------------------------------------------------------------------------------------------------
NYMEX:NGZ2020Long
by TradingShot
NG: UNG: BOIL: Natural Gas testing support before moving higherFundamentals remain bullish. NG Natural gas futures are getting ready for December roll. November contract made a rally up to $3.1 on Wednesday and now is testing support at $2.97 - $2.95 level. A three dollar price level needs some digestion. To break above $3.2 December price will require support from colder weather forecasts and higher LNGs. Rise in seasonal demand is confirmed by weather forecasts for the second half of November and into December - January. Last week in October forecast has now turned colder predicting high national demand for the next week (NatGasWeather). Supply/demand balance is tightening. LNGs are at 8-8.5 bcf/d with expectations to increase to 10 bcf/d within the next a couple of weeks. Technicals are pointing toward a pullback before the roll begins and prices move higher. Currently, support for November contract is seen at $2.97-$2.95 level. Even if lower prices are seen on Friday, the dip may represent a buying opportunity before the roll.
NYMEX:NG1!Long
by tradexchart
NG: UNG: BOIL: Natural Gas Upside Potential vs. Bearish WeatherNatural gas NG is getting ready to roll into higher priced December contract, Oct 25-29. The upside potential on a roll is $3.2 price level vs. current $2.8. However, weather forecast is bearish for the rest of the week and into early November. LNGs are higher at 8 bcf/d, but Cameron facility and Sabine pass are still blocked and expected to stay that way for the next a couple of weeks. NGI predicts trough in demand later this week. NatGasWeather predicts low national demand Tue -Fri on warming in high consumption areas. November contract may dip toward expiration. Technical Indicators: MACD chart has formed a double bottom pointing to higher prices. RSI has potential for a move higher, but may also form an island top with a dip lower before going higher, should traders react negatively to bearish weather forecast for end of October - beginning of November. The Volume bars on a price chart (see circle on top chart) showed limited buying at $2.8 level. Support for November contract is seen at around $2.7 level. Some analysts see support at $2.595 - $2.572 levels, should weather models lose TDDs later in October. Higher prices on Monday afternoon were supported by cold shot over Plains and Rockies and trader optimism.
NYMEX:NG1!
by tradexchart