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Ng1

NG1! in oversold zone. Technical bounce target 2.789 , 3.37, 4.0Natural Gas has dropped more than 43% since start of 2023, it's heavily oversold and hitting a major support zone (2.45 - 2.20 levels) , highlighted in blue box. In my previous post, I had a target of 2.33 as per Fib measured levels. I strongly believe we have seen bottom in NG short term, might go lower some more to test the support zone and build a base. Short term I'm expecting NG to technically bounce to target 2.789, 3.37 levels (white lines).. Best case might test the $4 levels, where the down sloping pink line meets. For any reason, if 2.20 support levels get broke, we might see lower target $1.795 and 1.44.. I believe we might see these downside targets only after a technical bounce 2.789, 3.37 levels. Let me know your thoughts in comments section
NYMEX:NG1!Long
by gmaster29
12
NATURAL GAS Futures (NG1!), H4 Potential for Bullish RiseTitle: NATURAL GAS Futures (NG1!), H4 Potential for Bullish Rise Type: Bullish Rise Resistance: 3.520 Pivot: 2.623 Support: 1.968 Preferred Case: Looking at the H4 chart, my overall bias for NG1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. To add confluence to this bias, price has also broken above the descending trend line. Price is currently also on an ascending trendline. Looking for price to rise from the pivot at 2.623 where the overlap support is towards the overlap resistance at 3.520. Alternative scenario: Alternatively, the price may drop towards the support at 1.968, where the previous swing low is. Fundamentals: There are no major news.
NYMEX:NG1!Long
by Genesiv
💨 $NATGAS UPDATE⤑ NATGAS found strong support around the key support zone as detailed in my previous post (see related idea) ⤑ The strong weekly performance points to a change of behaviour by market participants. ⤑ The change of behaviour does NOT automatically mean that there is a TREND CHANGE. This is only the first step required for a TREND CHANGE to occur. ⤑ At this time, it is the first sign that the "status quo" bear market condition has "stopped" for an unknown period of time. It may be only act as a temporary PAUSE prior to a resumption of the bear market. ⤑ In the immediate term (next couple of weeks), I would expect prices to reverse higher as there is strong upward momentum. Afterwhich the price may drop once more to re-test the support zone. The price action resulting from the re-test (if any) will guide us further to where prices may move in the longer term. MrStocky
PEPPERSTONE:NATGASLong
by mrstockyetoro
💨 $NATGASNeedless to say, this week is an important week for NATGAS price action. ✪ Price needs to hold within or break above the SUPPORT ZONE asap. A sizeable rebound higher would be expected if this succeeds. 📈 ✪ Failure to hold the SUPPORT ZONE will most likely see prices deteriorate further, possibily to the LOW at $1.50 😓 ☝️ We are yet to see a state of capitulation/panic. This is usually signalled by a spectacular sell-off due to accelerated selling in the form of an out-sized weekly red candle/bar. That would mark the bottom or near bottom. MrStocky
PEPPERSTONE:NATGASShort
by mrstockyetoro
7
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.
NYMEX:NG1!
by Fida4u
1
NATURAL GAS: Short term buy signal may be emerging.Natural Gas is very bearish on the 1D time frame (RSI = 36.041, MACD = -0.435, ADX = 40.625) with the RSI a few days back even oversold as since the December 15th Triple Top it has been falling non-stop. That fall was initiated not just because of the Triple Top but also because of the RSI's Lower Highs (LH), which flashed a Bearish Divergence. The price this month has been ranging sideways within the 2.340 Support and the 2.655 Resistance. Being this time on a Triple Bottom and with the RSI on HL (Higher Lows) we expect a short term rise to start if the price crosses the 4H MA100, which is untouched in 2 months. We will target the 4H MA200 (TP = 3.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYMEX:NG1!
by InvestingScope
8
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.
NYMEX:NG1!
by Fida4u
2
Nat Gas Accumulation TimeWe're coming in to a zone near the $3 mark where we belive it would be prudent to start accumulating long positions in natural gas. Using Elliott Wave anaylsis in conjuction with fundamental analysis we're pretty certain there's a huge upside to natural gas. We're unsure as to whether this will be a wave 3 or a wave C to the upside, but ultimately that doesn't matter as both will provide us with an upside target of at least $10+. Fundamentally there will be a bigger surge in natural gas demand as it has become evident that the world is not ready for renewable energy to support our power needs (if it ever will be able to support us entirely) so 'cleaner' fuels such as natural gas will be used in the immediate and near term to meet the global energy demands. As always with trading we don't need to know everything, we just need to be on the right side of the movements to make money and we're pretty certain this is going to be a huge move to the upside in the coming weeks and months.
NYMEX:NG1!Long
by RAA_Trading
4