Natural Gas forum
NATURALGAS Can't edit/update my last post, so for tomorrow I'm looking at these two scenarios:For a possible long after NY open I expect to see yet another test and bounce with momentum from 200 ema 15m. If price goes up from there and breaks above today's resistance near 3.12 and keeps making hh-hl that's uptrend continuation and I would hold the long.
For a possible short entry after NY open I expect to see either a) direct breakdown of current support at 200 ema 15m or b) price bounce from current support and then gets rejected from today's resistance near 3.12 with drop in volume and momentum + candlestick pattern.
There's a rather weak sellers orderblock between 3.09-3.14 with 1.58K orders and only 6% more sellers than buyers. Resistance is stronger with 2.83K orders and 23% more buyers than selelrs at 2.98-3.04 (volumetric orderblock). So most likely the bullish scenario might play out but we'll have to wait for NY open and see confirmation.
NATURALGAS it's been ranging today and only good for 5m scalping. If price tests and rejects near 3.12 tomorrow and volume drops further I will enter short. As it stands currently we don't have a break of structure from the previous swing high and price tested and held the 200 ema at 15m.
NATURALGAS Shorting here, this is what i see...could be wrong though GLA
NATURALGAS once this gets over the resistance then its going to rise 10%
NATGAS Just a warning guys, all of the Models are showing a Cat 1 or Cat 2 Hurricane hitting Florida on the 20th. As the models become more certain, the market will react to "Demand destruction".
For the most part, they all agree it's coming.
I'd be taking profit or trailing my gains with a trailing SL.
NATURALGAS A short here is worth the risk. Not too big, not too small, just right. Disclaimer: It might F you up. Caution warranted.NATGAS Easy boys, Good luck for the rest of the day. 👌
NATURALGAS let's expect 3.2
NATURALGAS If it wanted to drop it would have done so by now. Beautiful V-shaped recovery here. Only more up from here.NATGAS Today's numbers are looking good.Production is 100bcf
Exports are 13.8bcf.
No signs of production picking up yet.