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Natural Gas

Natgas: More pressure! 💪You know this one? Pascal: “Hurry up! Get a move on! We really need to get going!” - “Whoa, that’s a lot of pressure for just one Pascal…!” Okay okay, bad jokes aside, Natgas does need a bit more pressure to rise from the compound consisting of the white zone between $1.880 and $3.436, the blue zone between $2.407 and $3.277 and the pink zone between $2.573 and $3.439. Above this conglomerate, it should finish wave iv in pink before turning downwards to develop wave 2 in green, which should then lead below the bottom of the white zone. Once this prominent low is established, Natgas should take off again. However, there is a 40% chance that Natgas could leave the white zone on the southern side, thus expanding wave alt.2 in green earlier already.
NYMEX:NG1!
by MarketIntel
NATURAL GAS: Hit the 2 month Support. Buying is favored.Natural Gas hit the S1 Zone today (2.100 - 2.060), which started forming on February 22nd. This support has held another 8 times and with the 1D time frame neutral technically (RSI = 45.392, MACD = -0.046, ADX = 18.986), we are making a buy call targeting the 0.382 (TP = 2.440). In addition, the 1D RSI is bouncing off the HL trendline. In the event however that the 1D candle closes under 2.060, we will revert to selling and target the -0.236 Fibonacci level (TP = 1.830). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NLong
by InvestingScope
9
Long on NATGAS throughout the month of AprilSeasonally, April is on average a bullish month for Natural Gas and looks to have set up for a similar outcome this year. It has made a huge double bottom on the daily with a extreme bullish RSI divergence and you can see a similar positive RSI set up on the hourly and the 4 hour chart as presented in my post. My target is modest 3 which would is the most recent resistance tested on the 3rd of March and a increase of 46%. Good luck!
CAPITALCOM:NATURALGASLong
by SkyTrees
12
Natural GAS : LONGNatural 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 back into a shortage over the coming months. While natural gas spot prices appear likely bottoming, UNG's immense "contango" pressure remains a key investment rig factor. Source : Seeking Alpha
RUS:NG1!Long
by SWFguy
BOIL: Boiling up and down 🥘Still a bit tentatively but visibly, ProShares Bloomberg Natural Gas (aka BOIL) is starting to boil up, quite in accordance with our expectations. As the first part of a three-part counter movement, the ETF should climb further upwards to finish wave a in magenta, before wave b in magenta should return it to its current level. From there, BOIL should rise into the yellow zone between $7.11 and $19.05 to complete wave c in magenta as well as wave (4) in yellow, whose high should then initiate the overarching downwards trend’s final step: wave (II) in white.
AMEX:BOIL
by MarketIntel
8
It is not yet the right time to buy Natural gasIt is not yet the right time to buy Natural gas. U.S. natural gas futures prices hit a three-week high on Monday, climbing nearly 8% after forecasts of colder temperatures and higher heating demand in the next two weeks. The predicted decrease in temperature has led to an increase in the value of futures. Prices have risen as the amount of gas being exported abroad as liquefied natural gas from the United States is heading for a new monthly high. Export levels remained elevated for the second consecutive month in April. Forecasters are foreseeing lower-than-usual temperatures in most of the 48 continental US states between April 17 and 25. Refinitiv estimates that this trend pushes gas demand across the United States, including exports, to 94.8 bcf/d in the coming week, up from 94.1 bcf/d this week. Good news comes from natural gas demands, however, it has not been a problem in the year 2023. Natural gas experiences a higher demand during the summer (July and August) for electricity generation, while in the winter (December to February/March) there is a sharp increase in demand for heating homes and buildings in the North East and Midwest. Natural gas has multiple uses, including industrial use, for home heating and to produce electricity. A major alternative source to NG-generated electricity is coal, but with still high prices - $3.5 per MBTU versus $2.5 for NG - there are strong economic and capacity pressures for utilities to scale up the production of energy using natural gas. With many coal-fired plants expected to be phased out over the next year, these pressures are set to increase. I am confident about the demand for natural gas, but pessimistic about production. Production remains high and adverse weather can cause problems as we have witnessed this winter season. The price of gas has fallen due to warmer temperatures, which have led to a significant increase in stocks. Looking at the technical picture, the short-term trend appears to be bullish supported by good volumes. However, the movement was not caused by purchases, but by short-coverings. When prices drop significantly, speculators will buy back to close out gaining positions, thus creating a temporary bounce. My pricing model points to natural gas prices rising to HKEX:5 over the next few quarters. So I will monitor inventory weekly to consider purchasing the gas. I expect drought and extreme temperatures to come this summer, so my plan is supported by that scenario. The opportunity is tempting and I can't afford to pass it up. Author's note: The contents and information presented on this site should not be considered as a solicitation to invest in the financial markets.
NYMEX:NG1!
by Antonio_Ferlito
1