Natural GAs bulls defending the lowsNat gas closed positively today in a weak market.
The importance of this close is it was a close above yesterdays high. Showing some potential near term momentum .
If Nat Gas can closes above the resistance trendline we could see a retrace to $2.50.
Looking for a weekly bottoming tail on Nat gas to confirm a local bottom.
NATURALGASCFD trade ideas
Natural Gas, Elliott wave analysisOutlook for Natural Gas on 1D chart.
I think we are on sub-wave (b) of wave B.
Sub-wave (b) may be pulled back to sub-wave (a)'s Fibo level 78.6 to 90% or it may already be completed too.
If the assumption of this scenario is correct, Sub-wave(b) will be completed soon, and Sub-wave (c) will be started.
Sub-waves of wave (c) will form a five-wave Impulse or Diagonal.
Natural Gas - Live market update
Natural Gas making support at 1-30-24 1:21 AM. Other candles for today are 1-30-24 5:47 AM
1-30-24 10:13 AM
1-30-24 2:39 PM (Pivotal)
1-30-24 7:05 PM
1-30-24 11:31 PM
1-31-24 3:57 AM
Levels: Sell Below and levels 2.05 1.40 0.87 0.46 0.19
Buy above and levels 2.23 2.42 2.83 3.73 4.76 5.91 (Long term)
Disclaimer: I am not a Registered Analyst with any of the National/International Agency. Please consult your financial advisor before making any decision. This is only for educational purposes.
NATGAS is on its Way to New LowsThe price of NATGAS remains surprisingly weak despite the ongoing geopolitical conflicts. Considering the upcoming start of spring, the market is expected to reach new lows.
In order to open a short position, we want the market to continue to rise in order to achieve an optimal risk/reward ratio (RRR).
The trading idea presented offers an RRR of around 3:1.
NATGAS ContraContrarian scenario where this actually deserves or gets a little bit more of a push above, unless we are in just another correction formation. For the long setup to hold and to be considered, a bounce from a curve needs to happen with a precise candlestick setup right at one of the curves, for example where the green circle is, bouncing from the white curve and continuing on the green path towards the red.
All curves are potential support and resistance formations, projected in time, but the price might just hold on to them in magnet mode creating a wave along one of them. I have been playing around with this concept, with forward testing instead of back-testing, so it will be interesting to see how this project unfolds. (/anyone interested in those experiments can check the tube or X).
If the bullish sentiment does not hold, and the curves are broken below, a shorting opportunity might appear, with a bounce on the flip from any of the curves, example highlighted in the scenario with the purple path.
Nat Gas is testing Support line - Expecting a soon rebound !Daily chart, Nat Gas is testing the Support Line S, and it should rebound to trade inside the orange channel for some time before breakout. Then, the target will be 3.45
Stabilizing above 3.45 for 2 days, the target will be 4.30
Be careful - watch the Support line S and consider a suitable stop loss level.
Natgas accumulation Price currently in a possible accumulation phase. It seems like we have a common low on this instrument. Do the Bulls have the strength to break the accumulation phase and beat the down sloping trendline? we will look at lower timeframes to take a microscopic view and read momentum using pure price action. Change in polarity is when support change to resistance and resistance change to support once violated.
Natgas UpdateAnswering requests and attempting to make the analysis more useful, I begin providing boxes instead of specific structures where there is no certainty about the shape of the incoming wave (on top of the uncertainty that I am incorrect about the course of action).
I'm doing this to create a product that will meet your needs, and to avoid giving a false confidence about where the price may go next.
Please leave a comment if you have any suggestions for additions. Perhaps a link to a library of possible wave shapes?
Bullish Outlook: UNG Prices Surge Amidst Anticipation of Record In the wake of widespread winter weather last week, the volatile natural gas futures front month, specifically the expiring February contracts for UNG, are witnessing a robust uptick.
Traders are eagerly anticipating a potentially record-breaking storage withdrawal, adding fuel to the bullish sentiment.
The market's sharp rebound in early trading on Thursday reflects the optimism surrounding the impending storage pull, setting the stage for a significant uptrend in UNG prices.
Investors are closely monitoring the situation, poised for potential gains in the midst of evolving market dynamics.
Sharp correction patternDear Friends,
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I am sharing my analysis with you, but please note that I am not providing any buy or sell signals. I aim to share my unbiased analysis with you so that you can use it as a guide to make informed decisions.
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Natural gas short, short term, then bullish longterm. Looking at a cycle analysis and elliot wave pattern it looks like the natural gas is going to go down in a wave 5 during february and mars. Looking at the cycle analisys and at the fib levels it also adds up.
I think that the biggest players wants to grab as much liquidity as possible before entering long again, and is therefore pushing down the prices. If you look at the volume it also looks like that.
The winter was warmer than expected and it isn't going to be much colder or hotter in the next few months due to the global warming. This summer will probably hit new records of high temperatures which will drive up the prices again.
This is only what I think, also analyse at your own of course.
NatGas bottom is in.NatGas breaking the 2.2 level is certainly the call for me to enter a long position. I believe this is well under as it wasn't that long ago we were floating around the 8 mark. Over the next two months I expect it to make a move towards the 8although I think it will stall around the 5 mark and consolidate for a short period while people take profits.. Before pushing up to the TP of 8.
NatGas UpdateNatural gas. I'm just counting waves, trying not to pay attention to reports of a warm winter and general pessimism.
I correctly predicted the recent top, but I did not expect the price to fall so low. In retrospect, it appears to be fine from a technical standpoint, despite some disproportions on minute timescales, but hey... it's gas. It is frequently disproportionate and volatile.
Good News: Natural Gas is down 65% since April 2010The good news about Natural Gas is after adjusting for inflation, but still it is positive when the price of energy is low and affordable for consumers. We have a lot of natural gas in the USA and when the price stays the same and inflation makes your wages and income go up and makes the affordability of energy go up as well.
It is easy to remember the headlines about high prices a year ago and before on the Government lockdowns and supply chain disruptions (which continue with the Panama Canal and Suez Canal disruptions), and yet the drop in price isn't covered much by the media.
Our electricity prices were raised here in Connecticut because Natural Gas prices had soared to such high levels but the new rate agreement wont get set for quite some time, which means we are locked-in paying the highest prices for electricity when NatGas was $9 and now it is $2.
Prayers for prosperity in 2024 for all.
Tim
Tuesday, January 23, 2024 12:19PM EST