Natural gas corrected from $9.2/MMBtu to $2.2/MMBtu.
The latest EIA report showed US utilities added 75 bcf of gas into storage last week, more than market expectations of a 69 bcf increase, as mild weather kept heating demand low
Technically, now Natural gas is forming narrow wedge with some diversions seen in RSI. Despite fundamentally it is negative,...
Production continues to fluctuate in the high 90s Bcf/d to low 100s Bcf/d as pipeline maintenance events temporarily curb gas flows
Preliminary data showed gas output fell to a three-week low of 100.8 billion cubic feet per day on Thursday.
At the same time, gas demand is expected to increase from 91.3 bcfd this week to 91.6 bcfd next week as warmer...
Natural Gas has retraced 50% from last Hourly swing Low-High. New Upmove can take it to 248 in coming 2-3 weeks.
LTP - 197
SL - 190
Target - 148
Timeframe 2-3 Weeks
Risk Reward 1:5
Hi guys, In this chart i Drew My Best Levels in NATURALGAS for Long position using 15min Time frames.... I found a good level here. I Observed these Levels based on price action and Demand & Supply which is My Own Concept Called "PENDAM ZONES" ... Don't Take any trades based on this chart/Post...because this chart is for educational purpose only not for Buy or...
positional view-- buy ng 210 abv looks ups die 247--60+++ yes buy on dips with tight sl more update stya tuned with us wia whtsup---- yes if close abv 260 tnan will see soon 330 must have patience
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green -...
Price again touched the monthly Inside candle low , again 3 possibility , pull back, consolidation or break down ,
will add some more comments and graphics
MCX:NATURALGAS1! NATURAL GAS is at yearly to minthly buying / support zones, can commense major trend reversal on monthly, quarerly and yearly time frame, major s/r levels till 278 targets have been marked along with s/r level till 129 if doeas go downside.
respect the zones and trade only if you know how to trade the support/resistance areas effectively.
Natural Gas Upmove
After a downmove of too long currently at a small support levels of 180. Strong Support base at 130 levels.
Expecting upmove in the near term to mid term of 265- 370 levels .
No recommendations, just my view based on the chart.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green -...
