Natural Gas - Training Day
As we are getting close to the winter I'm also watching the Natural Gas December and January futures as price most probably will peak at the end of the year.
Yesterday's chart was very interesting in both.
Though we lost both the 50 and 100 SMA I think price finally is ready to bounce again.
The decline was much more severe than I was waiting for. (Fibonacci 78,6 % retracement)
The good news that both the January and December contract printed a swing on the daily chart.
I would like to see a fast recovery above the 50 SMA this week.
The 5 day RSI turned up from oversold conditions, and SToch RSI has reached the oversold territory.
Both the MACD and the TSI at the zero line. If this is a new IC than we need to turn up from her in both indicator.
Finally we had a nice volume yesterday and this combined with a swing is a very good news for the bulls.
The pullback has tagged the Fibonacci 78,6% line. In Natgas it' s quite normal : this is a volatile beast:
Yesterday's chart was very interesting in both.
Though we lost both the 50 and 100 SMA I think price finally is ready to bounce again.
The decline was much more severe than I was waiting for. (Fibonacci 78,6 % retracement)
The good news that both the January and December contract printed a swing on the daily chart.
I would like to see a fast recovery above the 50 SMA this week.
The 5 day RSI turned up from oversold conditions, and SToch RSI has reached the oversold territory.
Both the MACD and the TSI at the zero line. If this is a new IC than we need to turn up from her in both indicator.
Finally we had a nice volume yesterday and this combined with a swing is a very good news for the bulls.
The pullback has tagged the Fibonacci 78,6% line. In Natgas it' s quite normal : this is a volatile beast:
코멘트:
short squeeze is starting.
코멘트:
If we close here it's a key reversal. A higher high above the August ICL.
So chance is high we are going to break above 3 this year.
So chance is high we are going to break above 3 this year.
코멘트:
January futures also look great with the key reversal.
Volume encouraging too.
Volume encouraging too.
코멘트:
- Closing above the 50 SMA
- RSI has left oversold territory
- STOCH RSI turning up
- KEY REVERSAL: The low of the day and the high of the day is engulfing the previous day's candle. Actually not just the previous day but day before yesterday's candle too
- RSI has left oversold territory
- STOCH RSI turning up
- KEY REVERSAL: The low of the day and the high of the day is engulfing the previous day's candle. Actually not just the previous day but day before yesterday's candle too
코멘트:
Look how the 50 SMA worked during the trending moves.
When it broke below it in the uptrend the regain of the 50 SMA was the sign of the continuation of the trend.
When price broke above it in the downtrend losing again the 50 SMA was the sign of the continuation of the downtrend.
When it broke below it in the uptrend the regain of the 50 SMA was the sign of the continuation of the trend.
When price broke above it in the downtrend losing again the 50 SMA was the sign of the continuation of the downtrend.
코멘트:
코멘트:
It seems we jumped back to pick up someone who was left behind.
코멘트:
I guess everybody is on board in the rigged market.
One more unsuccessful attempt to break yesterday's low.
Now finally we can break above the 50 SMA.
Anyone bought today's drop?
One more unsuccessful attempt to break yesterday's low.
Now finally we can break above the 50 SMA.
Anyone bought today's drop?
코멘트:
Nightstar is roght below. We have divergencies
In the Tsi And RSI too
In the Tsi And RSI too
코멘트:
I don’t see any other explanation that one of the commercisls locked in the price at 2.35$ yesterday . Comms are hedging the production many times. If one of them is comfortable with a price opens a short position.
코멘트:
코멘트:
NatGas in +5%.
Last Friday the November contract expired.
Many players wanted to wait if Monday Natgas is dumped again and tgey can buy it at lower price.
Instead of a drop we opened a gap and now all who was waiting for a better price will have to chase.
Last Friday the November contract expired.
Many players wanted to wait if Monday Natgas is dumped again and tgey can buy it at lower price.
Instead of a drop we opened a gap and now all who was waiting for a better price will have to chase.
코멘트:
In the winter season you have to prepare for a contract expiry.
If you wait for a better price when the contract expired you might get left behind with no position.
If you wait for a better price when the contract expired you might get left behind with no position.
코멘트:
We broke the 200 SMA 2 days ago. Now it looks like we just tested back before the next leg up.
코멘트:
Last time a few weeks ago we turned down from the 200SMA. If we can stay above it it’s a game changer.
코멘트:
This is super bullish.
코멘트:
This might be the beginning of a beautiful rally.
코멘트:
Was a long time ago when I’ve something more bullish then this:
A perfect bounce from the 200SMA. All who sold on the hope that 200 SMA will Stop The advance will
Need to chase now.
We just need a few bears who are selling this double top to make a new high in this rally.
Need to chase now.
We just need a few bears who are selling this double top to make a new high in this rally.
코멘트:
But the double top on the small timeframe is actually a left translated double bottom ahead of one of the coldest winters in this century.
