NG1! Nat gas surged today, likely due to a knee-jerk reaction and short covering. Bears need to break the 3.18 trend line for a continued drop. The 1H timeframe looks weak; we may test the trend line again soon. Bulls could push higher, but odds are low. Stay sharp—nat gas is wild. Good hunting!
Price below neckline ($3.51). Head-and-shoulders target: $1.50-$1.65. Technically, unlikely to reach target. EIA: +55 Bcf (week ending July 2), inventory at 2,953 Bcf. Weather: Seasonal (~70-85 Bcf/6 days forcast). Steady, no change. Forecast Price Action: Short-term (1 week): $3.15-$3.25 Medium-term (2-3 weeks): $3.10-$3.20 Long-term (1-3 months): $2.50-$2.70 Trend: Bearish short term, long term bullish, in other words pull back to support , Technical Note: Focus on 1-week chart to reduce noise. $3.38 is key weekly pivot point. Expect choppy action, likely a move lower, then a bounce, repeating. 3.00 also seems to be a big round number to watch, lets see how it plays out, Good hunting!
NG1! at 3.467, below head-and-shoulders neckline. Short week due to July 4th closure. Watching 3.49 weekly pivot close. EIA reports 55 Bcf storage build, signaling low demand, likely pushing prices down unless heat spikes. Nat gas holding above seasonal norms. Short-term bearish, long-term bullish. im Sticking to 1-week timeframe to cut noise. good hunting
NG1! Nat gas surged today, likely due to a knee-jerk reaction and short covering. Bears need to break the 3.18 trend line for a continued drop. The 1H timeframe looks weak; we may test the trend line again soon. Bulls could push higher, but odds are low. Stay sharp—nat gas is wild. Good hunting!
