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Ng1!f

Holiday GasNatural Gas continues to show a build up of bullish price action. Linked below is a previous analysis on the winter contracts showing the target hit DEAD on. Being that winter is not here yet, it's very possible this pattern continues to play out to the upside. First. The most recent weather outlook now points to December being the coldest month which means the January contract is in focus. On the daily chart the price action continues to knock on the ceiling of resistance with several key indicators all flashing bullish signals. 1. Support at the 50 EMA 2. RSI breakout 3. MACD above zero with room to run Targets. The fibbonaci extensions map out objective targets. A big enough cold blast could easily send prices to the $4.20 level by Christmas. Which happens to line up almost perfectly with a macro fibonacci retracement from the 2018 highs to the 2020 lows. Are you bullish yet? Taking a step back looking at the weekly chart it looks even more bullish bouncing off both EMAs. My buy signal will be a break above the top of this weekly candle at 3.435 with a stop below last weeks candle. Trading is risky and should not be attempted by anyone.
FX:NGASLong
by lynaldendips
Spooky GasTime to start looking for another spooky Halloween trade as the latter half of October brings in cold temps. Prices are now sitting near historically supportive levels and bullishly above the 200 week EMA, with the 50 curling up. A closer look at the 4hr chart shows prices are coiling up with the RSI in buying territory. Buying here. Targets 2.8 to 3.08 Longer term we can also see the Winter contracts are consolidating at the 50% retracement and the next targets would be the 61.8% and possibly the 78% level. Remember, December has been a "warmer than normal" month the last couple years so if this repeats there should be a nice pullback to take advantage of next month.
FX:NGASLong
by lynaldendips
NG, not Coal. Thanks!The big question is what is going on with Nat Gas this year??? The December(Z) contract is still coiling up in a wedge pattern and about to reveal the answer. A closer look at the bullish scenario... It's looking technically hopeful with the 200 Week EMA, $3.00 level, and the bottom of the wedge all lining up. Now the bearish scenario... The RSI could actually be showing that the strength of this trend is toast and it's possible the MACD is over-extended. It would be a good idea to keep a close watch for the whole thing to fall apart, just as bulls are piling in for an anticipated leg up. As of now I'll be looking to buy December(Z) again around $3.00 if a bounce is confirmed and it remains within the wedge pattern.
NYMEX:NG1!Long
by lynaldendips