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Natural Gas

The head and shoulder pattern means only one thingNatural Gas behave erratically and its extremely chaotic. It likes to give you the assurance that you are in control while sneaking and stealing your money away. It shows a head and shoulder patter, an even double top pattern. All the technical markings are showing one thing, NG! is ready to reverse it's price action. But when it's clear, too clear should you believe NG! I wouldn't. Technical analysis says NG should reach $5 but my gut feeling says it will try to rip you off one last time. I would expect the great crash around next January. Not now. But if it happens now, make sure to stock up some for really good long positions during the winter.
NYMEX:NG1!Long
by titus22045
Sep 23,22-NG still sliding...to what? 6?So recession fears are the talk of this week and the markets are tanking. As you all know, people have a short memory - could be next week or the week after, NG will rise again. Be ready for the turnaround and ride it up. That's what I'm going to be looking for. How low will it go? Probably 6.5 for sure, maybe even 6. Next week is a new week so trade smart - volatile times we are in that's for sure. Between War, Cold coming, and world resources changing ESPECIALLY regarding NG (as Russia has cut Europe off), NG is going to be a hard one to trade. Stay safe and enjoy your weekend! Heiko
NYMEX:NG1!Short
by HEIKOTradingSystem
Natural Gas Futures ( QG1! ), H4 Potential for Bearish DropTitle: E-mini Natural Gas Futures ( QG1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 8.440 Pivot: 7.630 1st Support: 6.950 Preferred Case: On the H4, the overall trend is still descending and respecting the ichimoku indicator hence we are bearish bias. The price is forming a shoulder head pattern hence price might drop from the pivot at 7.630, which is in line with the 23.6% fibonacci retracement and the neckline of the head shoulder pattern to the 1st support at 6.950, where the 100% projection , 161.8% and 127.2% extension sits. Alternative scenario: Alternatively, the price could rise to the 1st resistance at 8.440, which is in line with the 61.8% fibonacci retracement and 38.2% fibonacci retracement Fundamentals: No major news.
NYMEX_MINI:QG1!Short
by Genesiv
Natural gas: head and shoulders top pattern; $5 in sight?US natural gas prices have formed a head and shoulders top pattern, which may signal a weakening of the current major bullish trend and a subsequent reversal into a bearish one. The left shoulder coincided with the relative highs at the end of July at $9.30/MMbtu, a level that was then followed by a pullback to $7.53 (August 8) prior to the beginning of a new rally toward the head at nearly $10. The right shoulder was formed by the decline from $9.97 to $7.80, followed by a brief rebound at $9.22 and another decline to the current $7.86. Although a brief breakdown was seen in the September 19 session, natural gas is now testing the neckline of the head and shoulders pattern. If confirmed, we could see a return to the level of $5.30, which were hit in early July 2022. Additional bearish technical signals for the price of US natural gas include the MACD oscillator dipping below the zero line and the RSI slightly pointing south. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
CAPITALCOM:NATURALGAS
by Capitalcom
1
Natural Gas (NATGASUSD): Technical Outlook 💨 Natural Gas formed a huge head and shoulders pattern on a daily time frame. 7.33 - 7.88 is its wide horizontal neckline. If the price breaks and closes below the neckline, it will be a very strong bearish signal. I believe that then the market can easily drop to 6.17 level. Remember, that for now, a neckline represents a strong demand area. Consider shorting only after its breakout. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
NShort
by VasilyTrader
6