Copper breached the supportThe L-MLH is a most likely support.
This support is breached in Copper, and a fllow through would indicate way lower prices.
What I really like in this Chart is the tiny pullback to the L-MLH, since this is totally expected after a breach of it.
Arrows mark potential targets.
Natgasshort
Potential Downtrend NATGAS
The natural gas market is currently experiencing a significant downtrend. As per technical indicators including Fibonacci retracements, Ichimoku cloud analysis, volume trends, MACD (Moving Average Convergence Divergence), and RSI (Relative Strength Index), the price of natural gas has declined notably.
Current levels indicate a potential sell opportunity with a suggested stop-loss (SL) set at 2.955 and a take-profit (TP) target at 2.730.
NATGAS LONG TERM SELLING TRADEHello Traders
In This Chart NATGAS HOURLY Forex Forecast By FOREX PLANET
today NATGAS analysis 👆
🟢This Chart includes_ (NATGAS market update)
🟢What is The Next Opportunity on NATGAS 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
Target 3.6Following weekly chart.
2.5 years old trend has been nearly broken.
Also there is a clear H&S formation. If it breaks
TP1 4.29
TP2 3.6
SL - follow weekly close above 6.85
NATURAL GAS BEARISH OUTLOOKThe cold weather in US had done little to support a price rise of the Natural Gas, while the consumption was lower than predicted.
The price of the gas had broken its support at $5.3 and might be heading further down, testing prices of 4.25 in the next couple of days. In the opposite scenario the price might try to reach levels of $6.07
RSI and MACD both are supporting the bearish movement with MACD histogram below 0 line and RSI below the 50 neutral line.
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NatGas: Don't trip 🚶🏼NatGas is currently facing down and should leave the turquoise target zone to climb below the support line at $4.750 to complete the pink wave iii. Our alternative scenario implies, that the course could rise above the resistance mark at $7.064 instead, if the course would stay above the $5.337-mark. After the completion of the pink iii in our primary scenario, we're expecting the course to rise between $4.750 and $5.337 to finish off the pink wave iv, before dropping back South. The downwards slope should stretch until the turquoise target zone between $3.436 and $1.880 to end the green wave .
NatGas NG1! - Further Decline Ahead, P5 Possibly ReachedAllen Andrews gave us great rules.
The P5 rule is one of them.
As we see in the chart, P5 could be reached.
What does this mean?
It's an indication that price is at it's peak and a potential turn is ahead.
Furthermore we have reached the center-line, where
a) price will beak through, revisit and continues
or
b) price will turn and trade to the opposite direction, which would be far below at the L-MLH (the lower parallel).
I like to wait for some kind of confirmation.
One of these I have in my arsenal is the break of previous lower highs.
You can see the short line in the chart, where I would start to take action.
So, we have another LT chart to observe.
Keep it in your watch list - it could be an epic play.
Mar 18, 22 Natural Gas Sell OrderNG has come down some overnight so I put in a sell order at 4.9.
I'm going to watch it closely and I'm not expecting it to take a nosedive anytime soon. As long as the War is in play, I can't see NG getting under 4.5.
I'll see what kind of profit I can get - maybe only 200-300 points, but still better than nothing :-)
Stay safe.
Heiko
NATURAL GAS INTO 5.50 - 6.00 📉📉📉📉 Expecting bullish price action on NATURAL GAS as we have fundamental reasons behind a strong bullish move the war between Ukraine-Russia + sanctions that will affect the supply/demand of this asset, another fundamental reason why price will go higher way above 5.0 is because we have a BULLISH MARKET SEASONALITY till July.
From a technical perspective institutional figures 4.0 - 4.50 keeps the price bullish, we have a clear bullish market strucutre just be patient and ADD LONGS.
What do you think ?
NATURAL GAS LONGS 📉📉📉📉 Expecting bullish price action on this asset as the price of natural gas should rise from a seasonality point of view, we have a bullish market strucutre on H4/D1 timeframe as price keeps making higher highs and lower highs during the move, i will switch my bullish bias only if price will close bearish below the 4.0 area which is a important institutional level.
What do you think ? Comment below..
NatGas: There is Room! 🔥🔥🔥NatGas is extending the correction way below the mark at $4.825. Now, there is still some more room left at the bottom. In total, we expect the course to fall between $3.969 and $3.795. Ideally, the turnaround will happen here. If we, however, fall below $3.396, greater corrections will be realized here.
It's getting close!
Natural Gas 200 day MA rejection. Short opportunity NYMEX:NG1!
Extreme volatility in recent weeks with lower highs since its recent peak provides comfort in potential change in longer term trend. 200MA now acting as short term resistance with critical support just below current levels. MACD supportive of short term downtrend. A break below support opens a move lower to 3.7
Monday: Natural Gas - Week 28Hello Traders! Check Related Idea for market context!!
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action.
Thanks for the support!
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Gas Upper Trendline - Short PositionGas Upper Trendline - Short Trade
Entry: $2.845
TP & RR: $2.693 (2.08)
Stop Loss: $2.918
REASONS FOR THE TRADE
After the breakout from the descending channel, we see the price sliding up an inclined trend line. However, the price is now reaching major resistance and I believe there will be a small pullback before potential continuation to the 1.618 Fib Level. The Market Flow indicator is also starting to revert, indicating weakness.
The entry is somewhat conservative since we give the price some more room to continue up before we enter the trade. Opening a position against the trend is rarely a smart idea. The Stop Loss is well above the trendline, which doesn't give us a great RR, but at least we will have more time to assess the price action and potentially close the position if things are not looking too good.
Bearish NATGAS front MonthHello everyone,
This is my first time posting here, hope you find this helpful being my own view:
1- Supply is over the 5 year average.
2- Supply is over last year's when winter was cancelled.
3- We are running out of places to keep the supply.
My view is, this is very bearish for the short term at least, and 2.9-3.0 will still be a major psychological level to beat, at least not with over-supply and a dead economy with no big demand.
Thus i am short on this and i believe that our 1st stop is 2.25 followed by 1.5 and we could even go negative for the front month, especially with everyone still dreaming of the winters biggest bull market and 5$ #Natgas,
and as we all know they like to do this, get everyone extremely bullish and chop chop they slay everyone out, and what better time to do this on Natgas than now??
They could bring it so low and suddenly the next month demand picks up and then they take it to all time highs, it's meaning-less if it just goes from 3 now to 4 , what changed? we are still over-supplied, and winter is not here yet!
Hope you found this helpful,
Thanks for Reading!
Short on NatGas Fundamentals
“There is simply too much gas right now, thanks to the very loose supply/demand balance caused by demand destruction with the economic shutdowns, with another loose number expected in (today’s) EIA report,”
Weather forecast
According to NatGasWeather for April 16 – April 22, “Cool shots will continue across the central and northern US into early next week with chilly lows of 20s and 30s. A weather system will bring rain and snow to central Plains, while a second system bringing showers to Florida. Texas and the South will warm back into the 70s and 80s into the foreseeable future, locally a touch hot into the 90s. The West will be mostly comfortable with highs of 50s to 80s for light demand. Warmer than normal conditions will build across all but the northeastern US mid-next week with national demand easing to lighter levels.”
Technical Analysis
Short position opened
TP @1.145
SL @1.843