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Natgasforcast

Turbulent Times Ahead for Natural Gas MarketNatural gas prices began the week with a gap-up, driven by forecasts of colder weather increasing demand, but have since faced strong selling pressure, making traders cautious. ◉ Technical Analysis ● A bullish turnaround seems imminent for Natural Gas prices, highlighted by the appearance of an Inverted Head & Shoulder pattern on the daily chart. ● After breaking out, the price momentarily reached the $3.290 resistance level before retreating and revisiting the breakout point. ● The price is now attempting to breach the resistance zone again, with expectations of exceeding the level soon. ● However, a drop below $2.800 could trigger a further correction. ◉ Overall Outlook Natural gas prices are poised for a volatile week as traders weigh colder weather expectations against bearish technical signals. Thursday's inventory data will be crucial in determining the next price move.
OANDA:NATGASUSD
by NaranjCapital
NATGAS LONG TERM TRADEBUYING19 minutes ago Hello Traders In This Chart GOLD HOURLY Forex Forecast By FOREX PLANET today Gold analysis 👆 🟢This Chart includes_ (GOLD market update) 🟢What is The Next Opportunity on GOLD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
PEPPERSTONE:NATGAS
by ForexPlanet20
NatGas - MassacreI don't have a working cycle count in NatGas right now as I haven't traded it since it topped earlier last year. This is a falling knife. 2 days ago we lost 3.300. That was the 2021.02.18 top and the Fibonacci 78,6% retracement level. As we broke below that level I see nothing until 2.442 and 2.267. If anyone wants to long this needs to wait at least a reversal candlestick pattern but I wouldn't try any long position before price drops between 2.442 and 2.267.
OANDA:NATGASUSD
by chartwatchers
12
NatGas: Caffeine Overdose ☕️🔋Looks like somebody overindulged on caffeine yesterday since NatGas jumped quite high to complete wave a in pink. We're currently expecting the course to drop back below the resistance line at $7.221 to finish off wave b in pink, before starting another climb above this mark. As soon as NatGas has crossed $7.221, it should rise further to complete wave (B) in white near the resistance at $9.238. A 33% chance remains, though, that NatGas could continue the downwards movement and fall below the support at $5.547, thus triggering further descent below $4.750 and into the pink zone between $4.068 and $3.493.
NYMEX:NG1!
by MarketIntel
2
NatGas: Athletic 👟💪🎾NatGas has been indulging in athletic activities – quite in accordance with its temperament. Since the end of wave ii in pink, NatGas has been exercising on the stairwalker, has been playing squash in the green trend channel and has been doing some aerobic. Next, it should proceed with trampolining on the blue zone between $5.554 and $4.684 to finish wave iii and iv in pink and then drop onto the pink mattress between $5.156 and $4.455 to complete wave v in pink, which also includes concluding the overarching downwards movement in the course of wave 2 in green. There is a 28% chance, though, that NastGas could skip the blue as well as the pink zone and lift itself directly above the resistance at $8.123.
NYMEX:NG1!
by MarketIntel
6
NatGas: Chin the Bar! 💪NatGas is showing its sporty side and is chinning the bar at the resistance at $8.403. Soon, it should be warmed up enough to vault into the turquoise zone between $8.544 and $9.307, where it should then finish wave (iv) in turquoise. Afterwards, NatGas should jump below the support at $7.532 to complete wave (v) in turquoise as well as wave (2) in white before moving southwards again. Alternatively, there is a 28% chance that NatGas could do a somersault directly above the resistance at $10.028.
NYMEX:NG1!
by MarketIntel
NatGas: Energizer Bunny 🐰🔋🔋A certain fondness for pink is not the only thing, NatGas and the marketing mascot have in common. Both, NatGas and the mechanical toy rabbit, are also full of energy. NatGas has steadily been climbing upwards from the pink zone between $7.435 and $8.320 and has already finished wave (i) as well as wave (ii) in turquoise. Now, we expect it to rise above the resistance at $9.600, heading for the turquoise zone between $10.796 and $11.327 to complete wave (iii) in turquoise. There remains a 35% chance, though, that NatGas could lose steam and could decide to make a detour below the support at $6.898 first before resuming the ascent.
NYMEX:NG1!
by MarketIntel
NatGas: Pretty in PinkNatGas would look really pretty in pink, wouldn’t it? Therefore, it should proceed to move downwards to complete wave ii in pink in the upper pink zone between $6.055 and $5.325. Afterwards, it should turn around and climb upwards, crossing the resistance at $6.786 and heading for the next one at $8.118. There is a 33% chance, though, that NatGas could acquire taste for more pink, drop below the support at $5.325 and into the lower pink zone between $4.835 and $4.205.
NYMEX:NG1!
by MarketIntel
NatGas: LowIt hit the floor (it hit the floor) Next thing you know NatGas got low, low, low, low, low, low, low, low Okay, these aren’t exactly the lyrics of Flo Rida’s “Low”, but they are fitting, nonetheless, for we expect NatGas to move further downwards below the support at $7.524. Just before the next support at $6.466, though, NatGas should turn around and head upwards, crossing $7.524 and even the resistance at $9.60. However, there is a 38% chance that NatGas doesn’t listen to Flo Rida’s song. Instead, it could climb directly above the resistance at $9.60 and subsequently rise into the blue zone between $11.298 and $12.116.
NYMEX:NG1!
by MarketIntel
NatGas: GeyserLike a geyser, NatGas is spouting upwards from the white zone between $6.255 and $6.684. We expect it to have enough drive to reach the resistance at $8.065 soon. There, it should gain some more momentum to make it into the orange zone between $8.559 and $9.241, where wave (5) in white as well as wave iii in orange should end. However, there is a 42% chance that NatGas could rebound off the line at $8.065 and subsequently drop below $6.466. In that case, it should fall into the green zone between $5.687 and $4.939 first before rising back above $6.466 and further toward $8.065.
NYMEX:NG1!Long
by MarketIntel
1
NatGas: Like a Balloon🎈Like a balloon, NatGas is floating further and further upwards from the support at $3.536. Although every now and then, there may be some gusts of wind temporarily disrupting the upwards surge, we expect that NatGas’s general tendency is to rise higher. However, as it is usually the case with balloons, they can lose air or burst. Accordingly, there is still a 45% chance that NatGas could fall below $3.536 and make a detour through the magenta zone between $3.360 and $1.994 before flying upwards again.
NYMEX:NG1!Long
by MarketIntel
NatGas: Ants in Its Pants 🐜🐜🐜NatGas seems to have ants in its pants, seeing that it has been fidgeting above the orange zone between $3.982 and $4.464 during the last weeks. As it has botched its first attempt to move upwards after finishing wave 2 in green, we expect NatGas to try for a second time. It should then rise into the green zone between $5.856 and $6.214 to complete wave 3 in green. After a moderate correction in wave 4 in green, NatGas should resume the ascent and climb above the resistance at $6.466. If its antics have sapped NatGas’s energy too much, though, there is a 40% chance that it could drop below $3.536.
NYMEX:NG1!Long
by MarketIntel
1
NatGas: Itsy Bitsy Spider 🕷The itsy bitsy spider climbed up the waterspout. Down came the rain And washed the spider out. Out came the sun And dried up all the rain And the itsy bitsy spider climbed up the spout again. Everybody knows this nursery rhyme, but for us, the lyrics go like this: Itsy bitsy NatGas climbed up to the green span Down came the rain And with it NatGas ran. Out came the sun And dried up all the rain And itsy bitsy NatGas started to climb again. Or in other words: NatGas has risen up to the bottom of the green zone between $5.579 and $5.811 to finish wave 5 in green and wave i in orange. From there, it fell down dramatically until the bottom of the orange zone between $4.464 and $3.982, where it completed wave ii in orange. However, NatGas has already started to climb up again and has made it above the orange zone so far. We expect it to continue its ascent until the resistance line at $6.466 and to soar higher still. To implement our primary scenario though, NatGas must not fall below $3.536, otherwise it would drop further. We have estimated a 40% chance that this could happen.
NYMEX:NG1!Long
by MarketIntel
2
NatGas: Drama Queen 👑 NatGas is a legit little drama queen these days. Since last week, it has completed wave 2 in green at about $4.049 and has not looked back so far. With several dramatic boosts, it surged upwards and breached the resistance line at $4.825 to finish wave 3 in green. After this exhausting exertion, it put its delicate hand on its forehead, sighing: “I need to recline for a bit…”. This breather led to a descent back below $4.825, but also to a fast recovery. With more dramatic flourishes, NatGas rose higher still and nearly touched upon the green zone between $5.601 and $5.836. Although it has drawn back a bit again, fanning itself with an embroidered handkerchief, we expect Queen NatGas to make it into the green zone to conclude wave 5 in green. If its power suffices, it could even rise into the orange zone between $5.954 and $6.467 to finish wave 5 in green in addition to wave iii in orange there. After all these stresses and strains, we reckon with a distinct corrective movement, which should lead into the lower orange zone between $5.265 and $4.294. There, NatGas should complete the countermovement with wave iv in orange and be royally ready to rise into the upper orange zone between $7.297 and $7.810.
NYMEX:NG1!Long
by MarketIntel
3
Gas Long SetupGAS Long Setup 🔵 Entry Level: $5.673 🟢 Take Profit: $6.094 ⛔ Stop Loss: $5.441 Reasons: - So far the price is respecting the ascending channel; - I believe the price may bounce off the lower trendline in the area between $5.535 and $5.670. Game Plan: If the price goes through the lower trendline (yellow), which at the moment acts as a support level, then I will be looking to open a short position on a retracement unless the 2nd trendline (white) acts as another support level.
CAPITALCOM:NATURALGASLong
by Quant_
1
Gas Long SetupGas Long Setup (refer to the setup marked with "2") 🔵 Entry: $2.704 🟢 TP & RR: $2.898 (3.4) ⛔ Stop Loss: $2.647 Trade Reasons: ✔️ Support level ✔️ Close to the 0.618 Fib retracement ✔️ Diagonal trend line within ascending channel 📝 A few things to note here: 1. Seeing how price action develops, you may close the trade setup suggested yesterday (marked as 1). You should end up with a tiny profit or break even (depending on the comission you pay). The current candle formation does not look promising for a long setup. Alternatively, trial the SL up as soon as/if price starts moving up. 2. I personally avoid having open positions near my entry level before the weekend, especially if that weekend happens to be the end of the month. So for me, this is a disproportionate risk. 3. Setup marked as "2" is the order I will be looking to open if price retraces to that level. The Stop Loss is not ideal, as I think it should be slighly under the 0.618 level, but I leave this up to you. Your RRR will decrease in proporiton to the distance to your SL.
OANDA:NATGASUSDLong
by Quant_
Gas Long SetupGas Long Setup 🔵 Entry: $2.81 🟢 TP & RR: $3.04 (1.71) ⛔ Stop Loss: $2.67 Trade Reasons: ✔️ Reaching lower trend line ✔️ Reaching support level ✔️ Market Flow indicator printing small divergences in the oversold area 📝 Not a great RRR, but the SL is positioned at a very safe level below the diagonal trendline and the recent lowest low. If price bounces off that level I will be quick to trial the SL so that I minimize exposure and lock in some profits.
OANDA:NATGASUSDLong
by Quant_
GAS Fibonacci Retracement - Long TradeGas Fib Retracement - Long Order Entry: $2.407 TP & RR: $2.549 (3.38) Stop Loss: $2.365 REASONS FOR THE TRADE So far Gas has respected the Fibonacci levels twice, leading me to believe that we may see a bounce from the 0.236 level and a potential reversal. We also have a descending trendline, which I am not sure how well will be respected, but it's worth keeping in mind. The Stop Loss is set at a reasonable distance from the Fib level and the target is at the 0.5 level. Although, if a reversal follows from 0.238, we may keep at least part of our position for higher levels.
OANDA:NATGASUSDLong
by Quant_