$UNG bounce here back to the neckline (updated levels)Alright, was a little too early previously. Updated the levels. Going to go long at $8.30ish level.
Upside to ~$17
UNG
Natural Gas: The Windowmaker 2Nat gas got slaughtered on Friday and made a new low.
When will the price action turn around? at this rate could we go negative?
Natural gas is stuck, but nearing a move Natural gas has been oscillating in a wide range between $2.34 and $2.60, give or take a few cents. $2.50 support/resistance has been the decision level for a sharp move in either direction. At this point, both extremities have been tested multiple times , weakening both support and resistance. I believe that if natural gas bounces here and tests the higher extremity, it will be broken with ease. However , the longer it stays near the bottom of the range, a break of $2.34 becomes likely and a fall to the $2.20 level materializes. $2.20 is roughly the top of the resistance channel that natural gas has been stuck in since December of last year (highlighted by the green box). That flush might wipe out the remaining stops and a big portion of the bulls that are remaining in natural gas, which could yield a nice bounce and trigger a short squeeze.
Natural Gas: on watch for a breakout!We discuss the latest daily and intra day price action.
Some education about basing formation and what we need to see to gain likely more upside.
Natural Gas at supportNat Gas, the widow maker - is at the 100 month ma (green line), which was a resistance level during it's consolidation and should be a support here. How much of a bounce it can get is hard to say but my guess is at least to 6 dollars sometime this year. This is a monthly chart.
Decision time for natural gas The daily candle that just opened is forming in a very interesting place. It will encounter some strong resistance around the $2.50 mark, which coincides with the last candle and down trend line since December. If Nat gas manages to push thru and break above $2.50 and close above the down trend line, then game on to +$3. If it fails at $2.50 and heads lower to the recent low at $2.39, it is likely to break much lower and make new lows , around the $2.20 mark.
Natural Gas looks interestingTake a look at this Nat Gas chart. It looks poised for a rotation of capital to come out of the SPY and buy it at these depressed levels.
Natural Gas: The Widow MakerNatural Gas is on pace for it greatest & fastest fall in price history.
Nat Gas is hitting technical support in one of the most oversold conditions ever.
We discuss some Nat Gas cycle history that may be useful in knowing how to trade Nat Gas.
Natural Gas Outlook Short And Mid TermVery weird things are happening in the natural gas space. It might be getting ready for the biggest short squeeze.
Road Map For Natural Gas?I did the best I could with the count. Please share your take on natural gas if you could. Thanks for the view.
Natural Gas about to bounce?Nat Gas/ UNG is into massive support and completely oversold on the daily & weekly time frames.
Everyone wanted nat gas at +$9 but no one wants it below $3.
Funny how markets work.
We are long Nat Gas in anticipation of a 25-50% bounce over the next 2-6 weeks.
BOILMight be bottomed here, mothly stoch rsi shows weakness. Would say DCA down to $5 to catch this monster move.
$Natgas $UNG $BOIL $KOLD Analysis, Key levels, and Targets $Natgas $UNG $BOIL $KOLD Analysis, Key levels, and Targets
Holy Moly…. I’ve been out of natgas for a minute… but at this level I’m going to start accumulating…. Let’s see how we open but I will likely be buying April 21 8 or 9 calls in the morning….
Supported by 5 year volume…
$UNG bounce here back to the neckline. 60-70% upside potentialWhile I shared a previous idea of UNG falling all the way to $2 (and while I still think that's possible over the course of this year), I'm never one to pass up a good counter trend trade. Idea here:
I think $UNG is bottoming here. This would setup a counter trend rally back to retest the H&S neckline it broke down from $17-18 range.
There's 60%-70% upside in this trade should it materialize over the coming months. The first thing I'd watch for is a reversal in price action and then you can jump in.
I set an alert for this price level and when my alerts hit, I jump into the trade.
I'm in from $10.36. Let's see how it materializes over the coming weeks/months.
head and sholdersIn my analysis, I have identified that the natural gas market appears to have formed a head and shoulders pattern. This is a technical chart pattern that is often used to predict a reversal in the trend of an asset.
The pattern is formed by three distinct peaks, with the middle peak (the "head") being the highest and the two other peaks (the "shoulders") being lower. The "neckline" of the pattern is determined by connecting the lows of the two shoulders.
In this case, I have identified the head of the pattern to have occurred on August 22nd, 2022, when the price of natural gas reached $34.50. The right shoulder of the pattern occurred on December 28th, 2022, with the price reaching around $17.
Based on this pattern, I am predicting that the price of natural gas will drop to around $4.20. This prediction is based on the idea that the head and shoulders pattern is a bearish reversal pattern, indicating that the price will move in the opposite direction of the previous trend.
It is important to note that this is a prediction and not a guarantee of future performance.
Natural Gas IdeaAMEX:UNG AMEX:BOIL NYMEX:NG1!
Weekly Chart on UNG show massive volume spike and RSI is terribly oversold. Big dead cat bounce coming.
XNGUSD ready to reverse recent downtrend LONGXNGUSD has been on a long downtrend. On the 1 H Chart,
a falling wedge is seen awaiting a breakout. Moving Average slopes are
decreasing their negativity towards zero. ATR / Volatility is decreasing
as is the downtrend momentum on the average directional index indicator.
I see this as a long swing trade setting up for forex or alternatively
a natural gas ETF like UNL / UNG or a natural gas stock like LNG. This
trade would be propelled by the dollar losing strength, inflation being
sustained, WW III in Europe continuing and the weather turning cooler the
remainder of the winter.
$UNG IdeasWhile technically we can go lower, I'm willing to guess the megaphone pattern is more likely. $UNG to $10 is still possible, but I'm ready to take a heavy bet on bottoming out now.
UNG | Its Time to Load | LONGThe fund invests primarily in futures contracts for natural gas that are traded on the NYMEX, ICE Futures Europe and ICE Futures U.S. (together, "ICE Futures") or other U.S. and foreign exchanges. The Benchmark Futures Contract is the futures contract on natural gas as traded on the New York Mercantile Exchange that is the near month contract to expire, except when the near month contract is within two weeks of expiration.
NATURAL GAS🔥 breakoutNG1! broke down out of the raising wedge (yellow) and I expect further downside. It will prolly not be in straight line, pullbacks along the way expected. Actually now we are sitting at the support zone 7.78 - 7.55, so bounce up or sideways before next leg down is possible. Target being the support zone 6.46-5.95 and potentially the lime uptrendline.
Also there is a upward channel (blue) on the log scale:
Will we test the channel lower edge?
Let me know in the comments how much has your gas bill risen if you already pay new price.
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NATURAL GAS🔥 to $4.6?Please 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free.
Wassup guys?! After my NG short call (two months ago) and reaching it's target I think the drop may not be over yet. I can imagine price is going to test support cluster created by major uptrendline (lime), horizontal support 4.75-5.95, and the yellow trendline. The former support zone 6.46-5.95 now acts as resistance at it seems to me that the upside pullback from the low 4.75 to 7.22 is running out of steam. Closer look (4h)...
...reveals local triangle (yellow) which is just about to break one way or the another. My bet is to the downside breakout.
I wouldn't go long as long as the major downtrendline (red) holds.
Let me know your thoughts in the comment section.
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