2.888 incoming...that's the key level area if you wanna swing long
Natural Gas (XNGUSD) forum
NATGAS Spotlight on severe weather forecast for central U.S. Easter weekendearthsky.org/human-world/severe-weather-forecast-for-central-u-s-easter-weekend/
NATURALGAS my hunch for monday, what are your thoughts? Happy good friday guys!
NATURALGAS still bearish technicals from 15m, 1h, 4h with short term bearish technicals for 1d as well but long term 1d is still bullish with price struggling to hold 200 ema d.There is bullish divergence piling up at the 4h chart, indicating weakness of bears. This if it continues can mean we are near a bottom and a reversal into the uptrend - BUT it's not confirmed yet because trend technicals are bearish!
ADX indicates lower bearish pressure at 1d and 4h, while market is flat at 1h and 15m.
I'm still looking for confirmation of a bottom and possible long entry inside 3.35-3.31 which has been tested multiple times as a support during this week.
For a short entry, I'm looking at a bearish divergence and rejection from any of the resistance levels 3.45, 3.55, 3.65, 3.80. Another possibility is the outright breakdown of 3.31 but I don't like trading breakouts as they are filled with fake signals and prefer trading double top or double bottom formations with bearish or bullish divergence instead.
Good luck everyone!
PS: from left to right 5m, 15m, 1h, 4h, 1d
NATURALGAS gap up, break supp then rally up!
NATURALGAS After the EIA report there is a chance of reaching 3.1 level. Before that I would like it to give a jump so that I can load more shorts.
NATURALGAS natty will close above 3.44 on tonight.
NATURALGAS ng is holding itself to this range we are going back to up side soon enough we gonna see 3.52 , 3.58 and possibly 3.72 in coming week. Don’t sell n hold it for overnight especially today.
NATURALGAS upcoming week will be a huge decider for either continued downward movement or a change to upside, I think it will continue to move down into the end of next week then at the tail end of April there will be movement upward if the weather does get much better.
NATURALGAS creating a spinning top in daily timeframe difficult to predict for Monday