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UNG

Natural Gas $NG $UNG $BOIL Tips for Riding your Profit- 4H 12EMALast weeks NG video i mentioned that this is likely a climax bottom and we are heading higher with potential inverse H&S pattern, it ended up playing out in the hourly time frame and bulls were a lot stronger than i expected. - Looking at the 4h time frame 12 EMA as full bull control support if we don't lose it then we wont be getting 4h and daily consolidation yet. - im still holding my $BOIL position (it 2x leverage of UNG) its a small position so i'm letting it ride at least 20~30% of course ill still be watching how we consolidate on 4h and daily time frame will tell me a lot if the bull move will continue.
AMEX:UNGLong
by ArcadiaTrading
Natural gas is overextended Natural gas looks to be forming a near-term top in what I think is an ABC move up. Bearish divergences are building on the hourly and 4 hr chart. Although, these divergences can continue to build while Natural gas grinds up , the risk-reward ratio warrants caution. Where does the B wave look to target? The $2.40 vicinity looks plausible, being there was a lot of price action there, a gap , and an attractive fib extension zone. The subsequent C wave will be spectacular, with the potentional of having a 3 or 4 handle.
NYMEX:NG1!Short
by Fida4u
1
Natural gas is stuck, but nearing a move Natural gas has been oscillating in a wide range between $2.34 and $2.60, give or take a few cents. $2.50 support/resistance has been the decision level for a sharp move in either direction. At this point, both extremities have been tested multiple times , weakening both support and resistance. I believe that if natural gas bounces here and tests the higher extremity, it will be broken with ease. However , the longer it stays near the bottom of the range, a break of $2.34 becomes likely and a fall to the $2.20 level materializes. $2.20 is roughly the top of the resistance channel that natural gas has been stuck in since December of last year (highlighted by the green box). That flush might wipe out the remaining stops and a big portion of the bulls that are remaining in natural gas, which could yield a nice bounce and trigger a short squeeze.
NYMEX:NG1!
by Fida4u
1
Decision time for natural gas The daily candle that just opened is forming in a very interesting place. It will encounter some strong resistance around the $2.50 mark, which coincides with the last candle and down trend line since December. If Nat gas manages to push thru and break above $2.50 and close above the down trend line, then game on to +$3. If it fails at $2.50 and heads lower to the recent low at $2.39, it is likely to break much lower and make new lows , around the $2.20 mark.
NYMEX:NG1!
by Fida4u
2
$UNG bounce here back to the neckline. 60-70% upside potentialWhile I shared a previous idea of UNG falling all the way to $2 (and while I still think that's possible over the course of this year), I'm never one to pass up a good counter trend trade. Idea here: I think $UNG is bottoming here. This would setup a counter trend rally back to retest the H&S neckline it broke down from $17-18 range. There's 60%-70% upside in this trade should it materialize over the coming months. The first thing I'd watch for is a reversal in price action and then you can jump in. I set an alert for this price level and when my alerts hit, I jump into the trade. I'm in from $10.36. Let's see how it materializes over the coming weeks/months.
AMEX:UNGLong
by benjihyam
2
head and sholdersIn my analysis, I have identified that the natural gas market appears to have formed a head and shoulders pattern. This is a technical chart pattern that is often used to predict a reversal in the trend of an asset. The pattern is formed by three distinct peaks, with the middle peak (the "head") being the highest and the two other peaks (the "shoulders") being lower. The "neckline" of the pattern is determined by connecting the lows of the two shoulders. In this case, I have identified the head of the pattern to have occurred on August 22nd, 2022, when the price of natural gas reached $34.50. The right shoulder of the pattern occurred on December 28th, 2022, with the price reaching around $17. Based on this pattern, I am predicting that the price of natural gas will drop to around $4.20. This prediction is based on the idea that the head and shoulders pattern is a bearish reversal pattern, indicating that the price will move in the opposite direction of the previous trend. It is important to note that this is a prediction and not a guarantee of future performance.
AMEX:UNGShort
by PetrifiedForrest