I remain bullish Natural Gas to 5.10 (or higher)Winter months are here. The East Coast of the US is experiencing low temperature and snow. Demand for Natural Gas usually increases in the winter months.
The price of Natural Gas has been climbing since late October and will probably keep rising throughout the winter months.
I remain bullish NGAS to 5.10 which is the 61.8% Fib extension from the up move and it lines up perfectly with a missed monthly pivot from march of 2014.
A break above the 100% fib is a good sign for trend resumption.
I like buying on dips.
NGAS
nATURAL GAS NEW UPTRENDHi Traders,
As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18.
Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher.
TARGETS
likely: 5.10-5.13
possibly: 5.37-5.38
ELLIOTT WAVES
This new uptrend is nothing more than "wave 3" of the recently started trend at 3.537. See the attached charts.
NATURAL GAS RESUMING THE UPTRENDHi Traders,
As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18.
Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher.
TARGETS
likely: 5.10-5.13
possibly: 5.37-5.38
ELLIOTT WAVES
This new uptrend is nothing more than "wave 3" of the recently started trend at 3.537.
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.
$UNG $NGAS Its that timeSeasonal Play ..o durr, right ? it gets cold people need cheap heating with Natgas at 3.65 its a bargain right now. IMO , I almost feel like todays 19.10 and lower was the perfect entry and I chickened out,
options are cheap right now,
Nov 14 22.00 calls are trading at .16 just yesterday they were at .21 so $5 cheaper,
DEC 14 25 calls are trading at .24 slightly higher than yesterday go figure
How ever looking at this chart i set up there the trend channel that i set up with a few touches, but at the beginning of Nov 2013 there a clear signal IMHO !!
HAPPY Trading hoping to make these my last few trades of 2014,
The SPY and DIA are so unclear right now