so far everything went well for buyers but slowly coming to a point, where we may see possible short trade.
Sell has tested the double distribution poor value are and got slammed by buyers. Buy tried to push to upper VAH of double distribution area but there was capitulation during Friday.
So following scenarios:
1. no SELL 4438 is going up to 4487. because...
support by fundamentals and now by technical move. now filling low value gaps, NG looks to trend up if bid keep 2.61
all last sells from 2.68 have bad highs so something to be vistied anmaybe to be taken out.
ES nice further long trend and don't mind to push it further up, however there are some weakness in this move
Watching this buy move further in regard to VPOC move. Once this happen, we may see a real sell.
So i am watching possible sell but not yet. Bias is still up
Buy VPOC at 4416 and now shift for now so we can see some further trend continuation but this...
Since NG land on VAH of last bigger sell and additional on a nice loaded value loaded M30 candle we may see a rotation day as fight between sellers and buyers.
However if buy will show strength and lift above 2.50 we may see some run up.
Sell must push below 2.49
so waiting to see the action.
on fundamentals: still some work on LNG terminals in USA, a bit...
NG is pushing further up. Friday a normal day with some P volume type indication due to open rejection reverse cash session.
NG is in area of single prints built in May (see link below)
We are close to a volume loaded level of 2.693 so we may see fight between sellers, who pressed below buy VPOC and buyers who would like to be back above it.
So next day or days...
NG did a nice move not just from technical point of view covering some low value areas but was pushed by:
1. warm weather USA and parts of Europe
2. Nederland closing one of biggest NG field
3. Some maintenance work of gas pipe lines in Norway (for June time)
4. some work on LNG terminals in USA
Gas in Europe jumped as well and this may give push for further...
Update of chart, hope it works now.
for now looks that price keeping the yesterday P day profile value area. so it is important we open and trade day above the yesterday VPOC at 2.341
possible target 2.415
latest move due to weather in TX in USA. Hot time for Europe comas well so this may increase need for NG
yesterday P day profile show some liquidation of long positions, so today all about keeping the VPOC of yesterday and there is more and more bad high building 2.370
But it is too obvious for NG, and NG likes to screw such trades before they work out.
i do not...
Last 2 days had a nice pull down poor value areas, so looks like folks was force to sell or there were nice traps for short sellers.
Now NG sits on VAH of last long consolidation and there is notr much will to sell 2.305. They try but each time going back to 2.305
targets 2.375 as next one
Above 2.4 we should get acceleration this move.
