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GAS

Possible outbreak for natural gasThere might be a good long possibility for natural gas with the price trading just outside of the downwards channel. The downwards channel is traditionally seen as a bullish pattern reinforcing my prediction. I used blue for my support lines and red for resistance. With a three day close following January 1st, a big move at the opening might very well be the case. Keep an eye out for a small drop to get in on a lower price. Target 1: 2.77 Target 2 3.0
NLong
by jellevanhoutert
NG: UNG: BOIL: Natural Gas Rebounded on Feb 2021 RollNatural Gas prices rebounded after dropping earlier in the week from $2.5 to $2.25 on warm weather. Prices rebounded on tight balances, oversold technical conditions, and roll into February 2021 contract. Support is expected to hold, as LNG flows are above 11 Bcf/d and balances are tight, with last draw at -152 Bcf. Technical Analysis: 4 Hr chart shows oversold condition. Support is seen at $2.25. However, double bottom is still possible, before going higher around January 10. Potential price target for the next leg up is $2.75 - $2.8. Upside potential for NG and BOIL may be limited due to roll into lower March 2021 contract on January 22 -27. Fundamental Analysis: Bullish picture with tight balances and potential for a deficit is possible going into 2021. Lower 48 state production lost -4 Bcf/d vs. 2020, while gas exports increased +4 Bcf/d, resulting in net increase in demand of 8 Bcf/d. Lower 48 production is expected to remain at 91 Bcf/d, while LNG flows and Mexico exports will total 16 Bcf/d. HFIR energy believes, that forward curve is underpriced at avg. of $2.58/MMBtu. Should weather turn colder after January 11, 2021, as projected by NatGasWeather, we may see NG prices bounce back to $2.7-$2.8 levels. Cash prices are likely to go much higher during winter. However, NG and BOIL, will start rolling into lower March contract around January 22 -27, which may bring futures prices back to their current support level at $2.3-$2.5 at that time. Overall picture for NG in 2021 is bullish, given lower production and higher LNG demand and exports remain in place. Traders are bullish EQT and BOIL (day trade). Short sellers will still have their opportunities on selling 4 Hr tops. KOLD is an inverse daily ETF, that does well during March - April contract timeframe.
NYMEX:NG2!Long
by tradexchart
💡 NATGAS . Weekly Technical Analysis UpdateMidterm forecast: While the price is below the resistance 3.000, beginning of downtrend is expected. We make sure when the support at 2.250 breaks. If the resistance at 3.000 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low. A trough is formed in daily chart at 2.378 on 12/08/2020, so more gains to resistance(s) 2.700 and maximum to Major Resistance (3.000) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 42. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
N
by ForecastCity
10
💡 NATGAS. Weekly Technical Analysis UpdateMidterm forecast: While the price is below the resistance 3.000, beginning of downtrend is expected. We make sure when the support at 2.250 breaks. If the resistance at 3.000 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI resistance #1 at 52 is not broken, the probability of price increase would be too low. A trough is formed in daily chart at 2.378 on 12/08/2020, so more gains to resistance(s) 2.700 and maximum to Major Resistance (3.000) is expected. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 42. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
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by ForecastCity
13
IDX PGAS : ELLIOTT WAVE ANALYSIS EXPLANATION AND HOW TO USE IT.ELLIOTT WAVE HAVE 5 WAVE BEFORE DO HIS CORRECTIVE WAVE, PGAS CURRENTLY IN WAVE 3 TO 4 ELLIOTT WAVE, WAVE 1 - 2 ALREADY VALID @0.618 ELLIOT WAVE, WAVE 2-3 VALID 1.618 WE HAVE TO WAIT THE SECONDARY REACTION OF WAVE 3 - 4 @0.382 AND WE CAN ENTER AT THAT POINT WITH BULLISH HARAMI CANDLESTICK (THE INSIDE BAR) OR HAMMER, ENGULFING WHATEVER IT IS FOR THE ENTRY AND WAVE 4 - 5 LENGTH HAVE TO BE SAME WITH WAVE 1 - 2 (AB = CD) WE CAN MEASURE WITH FIBONACCI EXTENSION (HARMONIC PRICE PROJECTION) FROM WAVE 0 = A - WAVE 1 = B , AND THE WAVE 4 = C WE CAN SEE THE PRICE WILL STOP AT 2185 AFTER REACHING THAT POINT SHOULD BE A CORRECTIVE WAVE THIS IS A TUTORIAL OR A SIMPLE WAY TO KNOW OR USE ELLIOTT WAVE NO POINT OF ENTRY! JUST A LESSON FOR WAVE ANALYSIS
IDX:PGAS
by RupinGoh
ridethepig | NatGas Finding a Floor📍 Natural Gas The proud floor - such is the name sometimes given to support - is a useful weapon in the hand of buyers. And yet for a time, I toyed with the idea - a seasonality one, I must admit. We cannot simply dismiss the deep examination; namely the elements and the strategies involved in trapping our opponent. For example, the fake breakdown and slingshot restraint. I have decided that the advantage is with buyers and can be seen in the elements: Buyers are coming in and preventing the loss of 2.5 and slowing down the said decline. The reason is clear, demand is ticking up and cancelling out the artificial dollar devaluation. We will use the fake breakdown as our invalidation level, as long as we are ticking above 2.38x we can continue to work longs. It is scarcely possible to set down on paper all the various maps in which the end game of a cycle can be unpleasant. But I will try to mention briefly all of the most important ones. A round of chart updates will continue over the coming sessions and days. Thanks as usual for keeping the feedback coming 👍 or 👎
NLong
by ridethepig
11
Long $USOIL $GUSH $XOPFrom the NYT : "Under the agreement, members of the Organization of the Petroleum Exporting Countries along with Russia and other countries will increase production by 500,000 barrels a day in January and, potentially, by a similar amount in the following months. The increase, less than 1 percent of the global oil market" From WSJ : "The price rout has also laid low big, publicly traded oil companies like Exxon Mobil Corp. and Royal Dutch Shell PLC, triggering big losses and job cuts. Shell and BP PLC both recently cut their dividend for the first time in years to preserve cash. Chevron Corp. on Thursday said it was joining peers in slashing spending." Oil companies are an important fixture in all of the most powerful countries in the world. While I fully recognize that the oil industry is a dying one, the financial stress that the majors are currently under is causing them to be undervalued relative to their integration, importance, and efficiency at this point in time. Higher oil prices from where they currently are is in the best interest of every major economy. It is a perfect time to make this happen given the effectiveness of the almost-approved Covid-19 vaccines. Just an idea!
FX:USOILLong
by jfs2152
NG: UNG: boil: Natural Gas Looking for a Bottom - Mid DecemberNatural Gas futures dropped disproportionately to fundamentals on lower national demand in the first half of December and slightly higher recent production. However, NatGasWeather forecasts for the storage draw covering next three weeks are not as bearish as the drop in gas prices. LNG flows are consistently bullish exceeding 10.5 bcf/d. The fundamentals are still strong. It seems that bullish traders are waiting for colder weather patterns to settle in before driving prices higher. If we get the forecasted warming next week, the prices may go lower. Expected trough at around December 9-12. Technicals: The 4 Hr chart is oversold. Yet, this condition may persist for another week. The double bottom is more likely before going higher. Per NatGasWeather Report: EIA Weekly Nat Gas Storage Report Outlook: EIA Weekly Report Week 1 – December 10 -70 to -80 Bcf Slightly Larger vs Normal Draw (Nov 27-Dec 3) Week 2 – December 17 -80 to -90 Bcf Slightly Smaller vs Normal Draw (Dec 4-10) Week 3 – December 23 -85 to -100 Bcf Slightly Smaller vs Normal Draw (Dec 11-17) NatGasWeather.com Forecast 5-Year Average -61 Bcf -105 Bcf -127 Bcf
NYMEX:NG2!
by tradexchart
ridethepig | Natural Gas Breaking Out!A nice swing cooking right on time for December seasonality flows to kick in. This leg higher threatens the sacrifice of resistance and creates freedom to manoeuvre towards $4 and $5 in 2021. We have a similar sized move cooking in energy to the leg we traded in Oil, only this time round the swing we are tracking is to the topside. See for example the following breakdown we traded in Oil; In the ST, play with the flow and continue ride the leg higher towards something like +/- 3.5 and 4.0 as the extension. Sellers are quite paralysed. For the MT and LT as we know, the philosophy of transition towards a 'Green new Deal' or 'Build back better' in such a short period of time constitutes a pipe dream. Already power grids are coughing badly with so much activity from lockdowns and more people at home, the theory that we will all be driving electric cars and etc looks quite far... one cannot rebuild energy without great difficulties is important to understand. Thanks as usual for keeping the feedback coming 👍 or 👎
NLong
by ridethepig
1
NG: UNG: BOIL: Natural Gas Oversold, Roll into January ContractNatural gas futures NG moved higher as it started rolling into January contract on Nov 20. Technical conditions are oversold on 4 hr chart. We have an unfilled gap at $3.1 level, a possible target for an upside move. Weather forecasts into early December are less bearish than last week, but still alternate shots of cold air with periods of warming. Next week EIA report is expected to be on a bullish side, a draw of about 20 Bcf, as demand exceeded supply for the period ending Nov 18. Expecting a gradual move to higher prices, unless weather forecasts change showing more cold temperatures coming.
NYMEX:NGF2021
by tradexchart
NG: UNG: BOIL: Natural Gas Looking for Support NG: Natural gas NG contract may find its support at $2.6 level before moving higher into January contract. Prices dropped on warmer weather forecast Nov 18 -Dec 2. From technical perspective, NG is approaching oversold condition on 4 Hr chart. Lower prices are still possible due to bearish EIA report on Nov 19, as built is expected on the backdrop of low demand through November 20. However, roll into January contract Nov 22 - 25 may provide support for this transition into colder temperatures starting first week of December. Should NG start rolling into January as early as November 19, the dip may not be a slow as expected due to warm weather.
NYMEX:NG1!
by tradexchart