Natural Gas USD Fib based trend and resistance levels LONGHi all,
Presenting my new idea on Natural Gas which has had yesterday some impressing price action while indexes were falling., today is another important day and lets see what happens
As you can see the drop of price from 3rd -10th March measured by Fibs is 0.618, taking this as a correction in a rising trend we are given a price close to 4 USD (measured by Trend based Fib extension), The support levels and price gap just add to it, but please remember this is just an idea not a trading advise! See what is the loss you can hit if this goes in other direction and protect your capital
My long position is in 1:2 risk ratio
NATURALGASCFD trade ideas
Long on NATGAS throughout the month of AprilSeasonally, April is on average a bullish month for Natural Gas and looks to have set up for a similar outcome this year.
It has made a huge double bottom on the daily with a extreme bullish RSI divergence and you can see a similar positive RSI set up on the hourly and the 4 hour chart as presented in my post.
My target is modest 3 which would is the most recent resistance tested on the 3rd of March and a increase of 46%.
Good luck!
#NG Natural Gas Bullish Monthly Close#NG Natural Gas Bullish Monthly close, short covering and bullish accumulation
Interesting observation - Same pattern repeated before reversalIt tends to make a lower low before reversing for long term on monthly chart. This time it made a lower low by closing with green candle for April month. From next month we can expect uptrend which will last for few more months
Bullish NatGas?NatGas looks kind of bullish to me on the 12hr time frame. We consolidated sideways out of the broken down trend.
Then, we broke the 12h coral strongly, made a new high, then it has retraced back to the scene of the crime aka where the break out happened.
This are is also where the 12 coral is now. Price is riding on top of it, and its rejected twice now. It's testing old resistance as support. Could be a bull flag forming here. We either pop to $2.60+ or fall back to structure around $2.10 if support fails.
Higher time frames like the 3 week and monthly are starting to turn. So thats a good sign for the bulls.
I'm still holding long and will buy some more if it drops on UNG. This chart is spot price.
Natural Gas: Another Bullish Move May HappenNatural Gas: Another Bullish Move May Happen
Price was holding very strong all these days above 2.3
I was focused more on a possible retest of 2.1 price zone but as we can
see the price already increased again.
During all these months NG didn't hold the bullish volume but it looks like 2.3
is a new and strong zone of support.
Price can test 2.3 again before the next bullish wave.
We may watch for potential price reversal near that zone.
Thank you and Good Luck!
Natgas 4h flip a coin. Market is Always right. Hopefully WE will have some move today. We may see another selling impulse and another bottom or break lower for the coming hours or days. As Always natgas Can make us +12% -12% in a single day even for no Real reasons sometimes ..so i will advise cautious, observe and stay tune or open position with tigh SL.
natgas price observationI have no idea which way the price of natgas is going but by charting like this I try to visualise how I've seen the chart look before and basically guess.
Not there yetA rise in the price of NatGas is not there yet, but this is on our shortlist to track. The energy crisis in the Euro zone will open the door to profitable long and short opportunities when Natgas price start rising. And it will rise. Always consider all possible moves the price can make and trade the setup with the highest probability.
