NATGAS SELL TP_1.730_5.21%_0.095pips_SL_1.851_1.42%_0.026pipsNATGAS SELL TP_1.730_5.21%_0.095pips_SL_1.851_1.42%_0.026pips
Natgasshort
NATGAS Analysis - Retrace Before Further Move DownwardFundamental $2.00 level has been broken, signaling how weak the market actually is, during a time it should be strong.
Due to oversold conditions, temporary prop back up to $2.05 - $2.11 (previous support) level is expected.
Natural gas analysts are expecting natgas production to remain high throughout 2020 which will eventually subside in 2021, when cuts will occur due to companies filing bankruptcy and other factors. Thus, the strong natgas production during extremely weak consumption will lead to this market retracing $1.60 low.
Natgas might also possibly complete the cycle seen in the daily/weekly charts to $1.30, which at that point you go all in long and become a millionaire. :) Good luck!
Natural Gas depleting bullish chanceWith news about NatGas weather saying that mild temperatures were expected these past days and being correct, Natural Gas is behaving inside a bearish triangle decreasing its three consecutive maximums and depleting a bullish chance that has until Feb 7 to occur. But it might certainly be tomorrow when the fossile commodity decides to either break 1.931 resistance towards 2.08 or destroy 1.87 support and go towards 1.611, a historical minimum.
NATURAL GAS USD BUY ON WEEKLYWe going to continue to the price action between $1.862 and $1.957. Most importantly is its 50% level at $1.910. Trader reaction to this level will determine the direction of the March natural gas futures contract today.
A trade through $1.862 will signal a resumption of the downtrend. A move through $1.957 will change the minor trend to up and shift momentum to the upside.
If there is a breakout to the upside, $2.033 to $2.076 becomes the primary upside target.
NATURAL GAS USDOUTLOOK: BULLISH
In the past few months NATGASUSD has been confounding forecasters - and whipsawing short-sellers - by rebounding sharply.
NATGASUSD bounced from support, potential for a further rise!
NATGASUSD bounced off 2.410 where it could potentially rise further to 2.660.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
NATGAS approaching support, potential for a further rise!
NATGAS approaching support at 2.450 where it could potentially rise further to 2.660.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
NATGAS reversed from resistance, potential drop!
NATGAS reversed off its resistance at 2.785 where it could potentially drop further to 2.600.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Let's ride the correction, shall we? SHORT NatGas Looks overheated [ RSI ], needs some cooling down.. guess it will, soon...
TP shown in the chart ~ convergence of
61.8 Fib
+
50MA
+
upper side of former downtrend channel ...
LET'S RIDE!!!
NATGASUSD 15-MINUTE TIMEFRAME SHORTNatural gas price seems to be moving in an uptrend. However, there appears to be a wedge-like formation in play, suggesting a possible small correction. If prices do reject the ceiling of this shape and go lower, i would consider going short. Due to the high risk nature of this type of trade, i would only consider opening a small position.
Resistance Hit with Nat GasStochastic and RSI suggest we are at oversold levels while price action moves into strong support. Expected move upward.
