UNG
Winter weather strongly influences on NATGAS demandNATGASUSD on the chart is showing 5-0 patten completed, ABCD on the way. Keep watching UGAZ!!
$NG1! Showing A Similar Trading Pattern As Last Year$NG1! prices have been depressed for so long, that the only play this year has been short.
As we look ahead to the upcoming winter season, we usually get a strong rally as traders buy the rumor or fear of a harsh winter. Once reality sets in and winter arrives, prices usually sell off.
There's an opportunity for traders to get in and play the fall rally.
Traders need to keep an eye on the 200 day moving average of 2.760 in front month nat gas contracts. Above there, and we have a trend change and algo funds will pile in.
It's important to monitor weekly inventory reports every Thursday. Another way to play is with small producers like our recommendation in $CRK.
As always, use protective stops and trade with caution.
Good luck to all!
The power of An Ascending Triangle with NG1!The pattern is completed on a decisive breakthrough the upper flat line of the Ascending triangle.
#ung #ugaz
A Natural Gas IdeaI still don't think that NG bottoms until the end of December. Just basing it off the cycles analysis idea I have going...but NG is tricky. This is what I think may be going on right now on a short term cycle. If this count is correct, then the wave 1 is longer than the wave 3 which of course would mean that wave 5 must be smaller than 3. Soooo, I extended the fib measurement of wave 3 down (assuming we ended this little up move, and what do you know, it fits. Lets see. I do not have a position yet but if NG drops to that blue box then a nice short term long position will suffice.
Natty accumulation - drop, then rock n roll$ung $ugaz $dgaz $boil $gaz $unl $kold Make no mistake- ol natty will be quite bullish but watch for another big flush drop into this descending formation - very likely another drop before the bull can break out. Short term could be bearish.. wait patiently I may consider some UNG puts until we can break out of this.
Natural Gas Daily About To Break Out Of Falling WedgeThe $NG daily has been doing battle with the 50dsma for 8 months. The falling wedge is about to explode to the upside.
Natural Gas Needs a Gap UpThe natural gas daily has been unsuccessfully trying to beat the 50dsma for 5 months now. A gap up may be needed to beat the 50 and the falling wedge.
NG no signs of strength yetNG seems to be working a bear flag, I'm still looking for a tradeable bottom, until then I'll be staying on the sidelines until market finds a bottom and show (SOS) sign of strength. 1.9 seems likely at this point, if thats the case NG needs to bottom this month as bullish seasonality starts early Sep
TRADE IDEA: UNG JAN 22/24 LONG CALL VERTICALMetrics:
Max Profit: $164/contract
Max Loss: $36 (assuming mid price fill)
Break Even: 22.36
Delta/Theta: 9.03/-.07
Notes: A seasonality play put on at /NG lows ... . UNG's not my favorite instrument in the world, nor is it the most liquid that far out in time. It's also possible that /NG could trundle lower, since seasonal peak injection generally doesn't occur until later in the year on average.
The pictured setup prices out at .18 bid/.36 mid/.53 ask and would pay well if we get another Polar Vortex. If we don't, we'll you aren't out much ... .
Trumps Tweets? NAH! Charts. Volatility in the works!Here you can see how the seesaw may unfold. Geometry! Cheers
-Coach Reeves
NG bottomed? The strong rally today suggests that NG low of the year might be in, bullish divergence in play, biggest hurdle would be a close above last swing high at 2.488
* seasonally NG bottoms in the last week of July, so looks good timing wise
** Just an idea NOT a forecast
NG more downside?I’m actually looking for a tradable low on NG, but charts suggest more near term weakness, a possible scenario would be up to 2.35 then resume the sell off to possibly 2.05-2.1
** Just an idea NOT a forecast
$UNG at multi-year support. #bullishTaking an entry here. Huge potential as we sit at multi-year support.
Ugaz possible EW counts update 05apr2019 @cryptoKneeTwas not a flat, so WTF! Many things pos IMO, many things say up for now, or a bit more down than up... 2 of an impulse, B on ZZ, X of a combo... that sweet wick on wick action in the a/1 is throwing me a bit...anyway some bull div. A bit up pos..or dumparoo $ugaz $dgaz $ung
