Short-term possible entry idea.Price has been bouncing within MA band on 2h/4h.
It rejected attempts to break through to the upper upwards trend channel indicating move downward.
Fib Retracement shows 2.1 as an interest point, aligns with the gap that was made this monday as well with a potential divergence on 2h macd.
Will wait and watch price action tomorrow for a potential long position.
Thoughts?
GNM1! trade ideas
Natural gas must be reversed in extremes, and bulls have reappea
The demand for natural gas continues to rise. Internationally, Brazil’s natural gas production decreased by about 12% in March. In the United States, meteorological experts predict that the severe cold in the United States will not decrease in the next ten days, and natural gas production will increase to cope with the future severe cold weather. After the decline, short positions have been reduced. The recent rise in oil prices has also led to a gradual rise in natural gas. The above are some things on the natural gas news side. From the high point of 9.98 last year, it has fallen halfway through. I believe that the price of half discount must be very attractive. I also believe that many people rushed in to buy the bottom, but the reality is indeed disappointing. The continuous decline has disappointed most people. , until recently natural gas has completed the medium-term downside structure.
Since August 9.98 last year, natural gas has experienced three waves of decline. At the same time, the second wave C has reached 1.382 times that of wave A, which is in line with the proportion of AC equidistant or slightly longer than the first wave in the adjustment wave. Another point is that an obvious 5-3-5 structure has emerged from the internal form, which means that the mid-term decline has come to an end. This is very likely to be the bottom of the past half year. Of course, it will take a stage to build the bottom, so it is only the initial stage after the reversal.
I also mentioned many times in the road show the suggestion to start the layout of the 2.03~2.13 area. Since yesterday, the continuous increase of 8.8% and today’s increase of 17.4% can be regarded as the prelude to this increase, but don’t be afraid of heights. Space is far from being reached. According to my deduction, from the perspective of the golden section, the short-term target for this rise is 3.84, and the medium-term target is 5.01 or 5.96, which means that there is at least double the space from the current price. The leverage attribute is even greater returns.
Of course, whether the rebound or the rise is in the same direction, it is nothing more than the overlap of wave a and wave 1, and the overlap of wave b or wave 2. At least starting from the bottom, you can see three waves of trends until wave c or wave 3 Only when there is the possibility of closing, so the goal must be enlarged, the pattern must be enlarged, and there must be an overall view, so as to reap the most lucrative opportunities in the band...
It is not yet the right time to buy Natural gasIt is not yet the right time to buy Natural gas.
U.S. natural gas futures prices hit a three-week high on Monday, climbing nearly 8% after forecasts of colder temperatures and higher heating demand in the next two weeks.
The predicted decrease in temperature has led to an increase in the value of futures.
Prices have risen as the amount of gas being exported abroad as liquefied natural gas from the United States is heading for a new monthly high.
Export levels remained elevated for the second consecutive month in April.
Forecasters are foreseeing lower-than-usual temperatures in most of the 48 continental US states between April 17 and 25.
Refinitiv estimates that this trend pushes gas demand across the United States, including exports, to 94.8 bcf/d in the coming week, up from 94.1 bcf/d this week.
Good news comes from natural gas demands, however, it has not been a problem in the year 2023.
Natural gas experiences a higher demand during the summer (July and August) for electricity generation, while in the winter (December to February/March) there is a sharp increase in demand for heating homes and buildings in the North East and Midwest.
Natural gas has multiple uses, including industrial use, for home heating and to produce electricity.
A major alternative source to NG-generated electricity is coal, but with still high prices - $3.5 per MBTU versus $2.5 for NG - there are strong economic and capacity pressures for utilities to scale up the production of energy using natural gas.
With many coal-fired plants expected to be phased out over the next year, these pressures are set to increase.
I am confident about the demand for natural gas, but pessimistic about production.
Production remains high and adverse weather can cause problems as we have witnessed this winter season.
The price of gas has fallen due to warmer temperatures, which have led to a significant increase in stocks.
Looking at the technical picture, the short-term trend appears to be bullish supported by good volumes.
However, the movement was not caused by purchases, but by short-coverings.
When prices drop significantly, speculators will buy back to close out gaining positions, thus creating a temporary bounce.
My pricing model points to natural gas prices rising to HKEX:5 over the next few quarters.
So I will monitor inventory weekly to consider purchasing the gas.
I expect drought and extreme temperatures to come this summer, so my plan is supported by that scenario.
The opportunity is tempting and I can't afford to pass it up.
Author's note:
The contents and information presented on this site should not be considered as a solicitation to invest in the financial markets.
Natural Gas Future Outlook Weekly /Daily S&R Technical Analysis - AMEX:NG Finally got a 4 hour uptrend need more follow through tomorrow to confirm
- likely heading to $2.5 if 4 hour uptrend confirm follow through tomorrow
- tradeable ticker AMEX:UNG and AMEX:BOIL still use the NG chart if you are trading natural gas.
Apr 18,22-NG-FINALLY going up :-)So it looks like I was more or less correct - 2 was a decent bottom and good entry point.
Don't know how many of you got in, but I'm in at 2 going long so I'm in decent profits currently.
I'll keep you updated as usual. As you can see I am trading on the weekly/daily so I'm not sure what my target is yet, but I am partial to 500 point profits so I might get out if NG hits 2.5
Take care and stay safe.
Heiko
NG1! Sellers In Panic! BUY!
My dear followers ,
Please, find my technical outlook for NG1! below:
The price is coiling around a solid key level - 2.274
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 2.505
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
NG, on active accumulation phase..NG, is undergoing significant accumulation at the current levels. It revisited strong order block / support at 1.9 level and it touched this multiple times. It retested it and bounce back-- only to return to it multiple times. Let's see if it can finally muster strength to reverse from this level.
Spotted at 2.10
TAYOR.
NATGAS Risky Long! Buy!
Hello,Traders!
NATGAS went down again
And is retesting the horizontal
Support level of 2.00$ again
So while the bias is somewhat
Bearish I think that due to the
Strength of the level we can
Count on one more rebound
Buy!
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Natural Gas Long Term Outlook | Importance of 4H Trend change | - AMEX:NG AMEX:UNG AMEX:BOIL cant stress enough we need to change trends, even if it is a very big move it will just fade if no trends are changed
- need to change the 4h and daily trend to the bulls
- likely tightening up in a equilibrium into May, still holding the teal support line.