Natural gas long viewThe price of gas is moving away from the previous bearish trend. January and February were extremely bearish. March was a month of consolidation, and April initiated a bullish consolidation supported by EMA20 and EMA50 daily. The price is currently at the $2.05 level, and before the next bullish run, a pullback to the $1.95 support zone is possible.
XNGUSD trade ideas
Natural Gas - Lower Time Frame UTNatural Gas
Now showing bearish divergence on the 3 hour chart after a higher high shakeout.
That is very likely to be a Wyckoff UT UpThrust.
This signals that the current wave up is now more likely to be a connective wave and there will be another bearish wave to follow.
Perhaps it gets back to somewhere around the 0.618 are perhaps it will get all the way back to the previous support low @$3.362 and that would complete a flat pattern.
Both are probably about equal odds and we'll need to see more.
I have taken some profit in this area but will hold a small amount through the area for long term👍.
Not advice
Potential SHARK Harmonic pattern forming on Natural Gas📈 Keep an eye on Natural Gas! 🦈 Potential SHARK Harmonic pattern spotted 📉
This pattern, known for signalling trend reversals 🔄, is gaining attention as it shows distinct Fibonacci ratios and price swings. If confirmed, it could mean significant price movements ahead.
The pattern involves four key points: the initial impulse leg, a corrective retracement, an extension leg, and a final reversal leg. Traders are watching closely as price action approaches the projected reversal point 🎯. Confirmation of the pattern often comes with additional technical indicators aligning with the reversal signal.
In the Natural Gas market, factors like supply and demand dynamics, geopolitical events, and weather patterns play a crucial role. Traders are combining technical analysis with fundamental insights to assess the pattern's validity and potential outcomes 🌍💡.
Stay alert and keep your risk management strategies in check! Whether the pattern leads to a bullish 📈 or bearish 📉 reversal, traders with a keen eye on harmonic patterns and market dynamics will be ready to seize the opportunities 💼💰.
Natural Gas Technical AnalysisNatural Gas Technical Analysis
The price broke down from a minor structure support zone.
The first 4 hours candle closed red and looks a big candle, showing an increase in the bearish volume.
The first support will be found near 1.8670 and the second support near 1.8100
Don't forget that it is very risky trading NG due to the high speculation.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
It's a matter of WHEN it explodes; not IF Don't know how this plays out in the short-term... but it will explode soon (likely this spring or summer at the latest). If it does flush lower one last time, I'm looking at the $1.30 region... hitting UBER oversold on the quarterly, monthly and weekly charts.
NGAS Upside Risk on Supply-Demand DynamicsNatural Gas prices have been dropping over the past four months due to progress on renewable energy and hot weather being among the drivers. However, market could become tighter this year, with slower supply growth and an acceleration in demand, while key US drillers have slashed their 2024 outlook. Further Middle East hostilities after the Iranian hit on Israel, could affect traffic and push prices higher.
On the technical front, the rejection of the EMA200 (black line) 23.6% Fibonacci of the 2024 high/low slump, make it vulnerable to new multi-year lows (1.523-13). Improving supply-demand dynamics though, can support a recovery towards the 38.2%, to what is a difficult technical path.
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Past Performance is not an indicator of future results.
The aggressive idea of wave 1 and 2 was not invalidated!Dear analysts and traders,
I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules.
As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it.
I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision.
I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily.
I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him.
Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me.
I hope my analysis will be useful to you in your business journey, and I wish you all the best.
Sincerely,
Mr. Nobody
Natural Gas - Live Market Analysis
Natural Gas is overall bullish now. But, today its important to trade with caution, being Tuesday.
It already is trading below today's high.
Please read the notes as mentioned on the chart and act accordingly.
Disclaimer: I am not a SEBI Registered Analyst and it is only for Educational purposes. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits or losses.
Thank you
Natural Gas closed bullishly today!Nat gas confirmed a daily chart breakout!
Its looking likely that we are now putting in a basing formation to move higher.
Now that we are holding above $1.86...we could start to see shorts cover.
I remain bullish as long as were above this key gap zone from 2020.
Nat gas resource stocks are continuing to show signs of accumulation.
$2.25 upside target on watch. $3- $4 by end of year.
The bull market has started! Wait until the market maturesDear analysts and traders,
I hope you are doing well and are motivated for the week ahead. I wish you all the success in your business endeavors. Remember that success in trading lies in consistently defining and sticking to your rules.
As someone interested in the Elliott Wave Principle, I find it to be an invaluable tool for market analysis. I have developed my approach by combining this principle with my personal experience and by considering different scenarios that are likely to occur in the market. It should be noted that I do not like to be surprised in the market, and that's why I have different market prospects. I follow them to be sure and recognize the structure that is forming so that I can 100% recognize it.
I will share my analysis with you, but please note that I am not providing any buy or sell signals. My perspective on idea analysis is completely unbiased, so if the idea analysis meets your standards, you can use it as a guide to make an informed decision.
I have attached my previous analysis of the same market so that you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand. However, having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily.
I have been studying the Elliott Wave Principle for almost three years now, and over time, my understanding of this knowledge and experience has grown. What I have achieved so far is the legacy of a genius called Ralph Nelson Eliot, and I am really happy with my progress. May peace be upon him.
Thank you for your support so far. I will always remember your kindness. Please share your comments and criticisms with me.
I hope my analysis will be useful to you in your business journey, and I wish you all the best.
Sincerely,
Mr. Nobody
Natural Gas & Oil - Heating Up!Nat gas made a bullish reversal today. Closing up over 6%
Natural gas has recaptured the short term trend and is trying to establish a new bullish range.
If Nat gas holds above the key $1.8622 level we will have a quick squeeze to $2.25
Oil continues to grind higher. making new higher highs and higher lows.
Oil is now on watch to target $90 a barrel.
Inflation still in a downtrend with these commodities breaking out?
NatGas | NaturalGas | Natural Gas idea#Natural Gas Retesting the previous bottom
#B0 level buyers in Daily Time Frames
#Strength improved -54 vs -18 is a good sign , Positive score and + 19 will be celebration score ahead.
#Weekly Monthly time frames are still in bearish Mode so we may see more retesting of bottoms or new low.
#Natgas UpdateThe diagonal we identified last week has been confirmed. However, its fifth wave taken out the prior low, making some aspects of the previous scenario irrelevant.
In the overall scheme of things, this doesn't change anything other than adding assurance to the scenario with a larger falling diagonal, which we began considering a few weeks ago.