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UNG

UNG continues to rise UNG the ETF that tracks natural gas futures has continued on a significant uptrend since June 1st The 2H chart suggests to be that the trend will continue this upcoming week. UNG is now above the POC line of the long multi-session volume profile. UNG has had support from the VWAP line representing two standard deviations below the mean. In recent days, price has crossed that mean VWAP in a sign of bullish momentum. The volatility oscillator indicator is showing bullish volatility while the RSI is high above 80 and staying there without any fade to suggest bearish divergence. Overall, I will continue to run my position without any partial take profit. My target is the VWAP line that is two standard deviations above the mean anchored VWAP and so presently about 7.85. Any new trade would have the same target while setting the stop loss just below the POC line.
AMEX:UNGLong
by AwesomeAvani
1
Is KOLD getting chilled out ?KOLD's trend down may be continuing. They say weather climate conditions are for things heating up. this trader concurs albeit from one of the traditional hottest places in the entire USA and so with that bias come hell or bitter winter chill. On the chart, a persistent trend down for KOLD underneath the Ichimoku cloud of the Luxalgo indicator is easily seen. Luxalgo's Bollinger Band oscillator shows that price is riding down along the lower BB band without any outlook for a reprive. Furthermore, price is well below the high volume area of the volume profile and in the lowermost bands of the anchored VWAP. On the MACD indicator, the MACD and signal are both trending down and well below zero. In short, the value of KOLD is crashing down. Any traders long are best to consider liquidating while any value remains. I am not long KOLD and happily continue my long positions in BOIL, the inverse of it until analysis dictates otherwise.
AMEX:KOLDShort
by AwesomeAvani
BOIL Natural Gas Price Recover and ReverseBOIL on the 2H chart has bottomed and begun the reversal as this leveraged natural gas fund sees a red to green in the HA candles as well as the volume. Price has crossedover the POC line of the long-term volume profile and exploded from a Doji candle below the mean anchored VWAP with consecutive engulfing bullish candles. The Luxalgo AI predictive indicator suggests a parabolic move higher and a correction in the first part of next week. I have already profited 700% on this trade that I have been in since my earlier idea on BOIL. I will add to the position now but be watchful for a reversal of the reversal while watching a volatility indicator to set the exit.
AMEX:BOILLong
by AwesomeAvani
163
UNG Natural Gas ( Unleveraged) ETF LongOn the 4 hour chart- UNG had a head and shoulder pattern in May from which it descended in a gradual fashion from May 25 to June 2nd and then reversed upward. The reversal occurred at two standard deviations below the mean anchored VWAP and so deep in the oversold area. Price has crossed over the higher VWAP line and so is in the band between the mean VWAP and one standard deviation below it. Volumes have been persistent. Importantly, the zero lag MACD shows the lines in parallel and crossing the zero horizontal line from underneath. I see UNG properly set up for a long trade. Fundamentally, the hot summer may bring increased natural gas consumption to make electricity for air conditioning. The dam disaster in Ukraine may close down the biggest nuclear plant in Europe because of cooling lakes potentially compromised. Natural gas may be an alternative fuel to make electricity. Compressed NG from the US may become more important to Europe, especially since the Nordic Stream pipeline issue developed. All in all, I think natural gas prices are likely to rise.
AMEX:UNGLong
by AwesomeAvani
3
Natural Gas: 1.618 Confluence Support Zone Has Held Natural Gas was trading at this Log/Linear 1.618 Confluence Zone for a while and even confirmed a 3 white soldiers pattern from the zone, but has since been very quiet. However, it's recently begun to bring us somewhat of a bounce and has confirmed a couple of higher lows with some hidden Bullish Divergence on the MACD after holding above the Bullish Control Zone on the RSI and now it's looking to make some higher highs and could take back the entire range. It should also be noted that this 1.618 confluence zone is at the PCZ of a 1.13 Bullish Shark.
OANDA:NATGASUSDLong
by RizeSenpai
Can KOLD make it through the summer?KOLD is a leveraged inverse of natural gas futures contracts. Natural gas prices could see a rise this summer as it is fuel for electric plants to make electricity to power air conditioning and charge all the new electric cars. Hydroelectric and wind might be green put they contribute little to the large power grid. NG is better than coal and diesel. So if a supply and demand imbalnce develops what does Eco 101 say will happen to prices ? KOLD will go down and BOIL, its inverse will go up as rising current prices will reflect in futures contracts in months ahead. On the chart, KOLD is seen in an uptrend and the RSI has crossed over the 50 line while price has crossed over the POC line of the profile ( mean price at which the most shares traded over the given date range). Bullish momentum is slightly dominating with moving averages diverging. A volume void above may result in a small jump along the way. Will the summer heat drive up NG prices and make KOLD melt?
AMEX:KOLD
by AwesomeAvani
UNG- Buy at a BottomAs shown on the 4H chart, UNG has been trending down albeit with a triple top in April and a head and shoulders in early May. It is presently at the bottom of the long term volume profile and two standard deviations below the running mean anchored VWAP. This is deep undervalued territory. On the MACD indicator, the K and D lines intersecting while under the histogram which is positive portrays an early entry signal. I believe that it is inevitable that UNG will have an uptrend in June as it did in April and May. The uptrends had a slope of about 1.5-3% per day while underway. I will take a long trade in UNG and potentially BOIL while leveraging XNGUSD on forex. For UNG, the targets are the POC line of the volume profile, and mean VWAP , the final target is one standard deviation above VWAP while the stop loss is three standard deviations below VWAP ( thin green line).
AMEX:UNGLong
by AwesomeAvani
UNG retracement complete- to uptrend again.UNG as shown on the 15-minute chart had an untrend for a week culminated by the very steep finish to the uptrend into resistance followed by a very rapid bounce down and retracement. A standard 50% Fibonacci retracement is now complete. UNG appears to be bounding off the POC line of the volume profile which coincides with the 0.5 Fib level. UNG tracks the natural gas futures, especially the leading month. It appears now ready to resume an uptrend. This is a directional bearing on the trend for any instrument based on natural gas prices including XNGUSD on forex.
AMEX:UNGLong
by AwesomeAvani
2
Can XNGUSD short squeeze?XNGUSD on the weekly chart showing two years of price action with weekly candles shows the rise in 2021 into spring 2022 then printing a head and shoulders pattern and the reversal to deep into the support/demand zone. The volume profile shows the majority of the trading during this time period to have been between $3.75 and $ 8.50. It would seem likely that there are a sizeable amount of short sellers holding positions with unrealized profits of 50% to as much as 300%. This past week had the best buying volume in six months and provides bulls with optimism If natural gas can gain some momentum and put in green candles with a decent price range for a couple of weeks in a row, the combination of new buyers with new interest and short sellers liquidating and buying to cover their unrealized gains might ignite a bit of a rally for natural gas. I will keep natural gas on watch. I will keep in mind that a breakout without a corresponding volume the response could be a fakeout. A stop loss would be $1.95 below the support zone while the final target would be $4.75 below the POC line. Interval take profits would be 10% of the forex lots every time the price rises by $0.50 for risk management and good profit taking while underway.
FXOPEN:XNGUSDLong
by AwesomeAvani
BOIL LONG a 3x leverage Natural Gas ETF Natural Gas prices have finally reversed on the FOREX markets after significant downtrends from a historical high. BOIL on the hourly chart has reversed a two-week downtrend and today has an increasing volume. Ir bounced off the lower Fibonacci levels and is looking to revert to the mean. Price was undervalued below the green fair value zone at the VWAP +/- one standard deviation but is now heading back into it from the buying pressure. As a 3x leveraged ETF is prone to more volatility than the unleveraged UNG counterpart. I will play this with a call option contract expiring 3/31 striking $4.00 and expecting at least a 50% return in the upcoming 8 trading days. The risk here is that this is just a short pullback on the downtrend but getting in early on a long and watching carefully is the approach I have taken.
AMEX:BOILLong
by AwesomeAvani
46