Natural Gas Daily About To Break Out Of Falling WedgeThe $NG daily has been doing battle with the 50dsma for 8 months. The falling wedge is about to explode to the upside.
GASL
Natural Gas Needs a Gap UpThe natural gas daily has been unsuccessfully trying to beat the 50dsma for 5 months now. A gap up may be needed to beat the 50 and the falling wedge.
Inverted head and shoulders GASLPT1 43.05.
this is an inverted h&s within a shoulder of another inverted h&s ...
PT2 52.07
GASL Bullish BreakoutShares of 3x Bull Natural Gas Related Equities ETF is trading just above a symmetrical triangle on above average volume following 3-months of sideways consolidation at the lows.
How correlated is the SPX and energy?The market seemed to shrug off the initial drop in energy. As of late it seems much more correlated
NATURAL GAS NEW UPTRENDHi Traders,
Natural Gas (now at 3800) started a major uptrend as 2 days ago as predicted. It's now to retrace a bit to 3760-43 before resuming the uptrend to 3924-50. That should mark the top of "sub-minuette wave 1".
As you can see by the 2-hours chart above we're still plenty of time to get on board for a long position.
ELLIOTT WAVES
The letter "C" at the bottom right of the chart marks the very end of major retracement wave C. That wave was part of large A-B-C downward correction started from the top at 6,481 on FEB 24, 2014. It bottomed at 3,537 on OCT 28.
TARGETS
first 3760-43
then 3924-50
PS: apologies for not providing more charts but I'm utterly busy.
Mario D. Conti.
Taking a stab at Natural GasWeather, Trends, Flag pole formation point to more downside in November. Going to start a long position at $3.55, then add at $3.46, $3.55 and at 3.21 if it gets there. This is my first time trading Natural gas so wish me luck
