LNG1! trade ideas
MCX Natural Gas is high but avoid sell and holdNatural gas futures in MCX and NYMEX is touching new highs day by day and may create temptation for derivative traders to sell and hold by looking at the premium in price. Price may stay higher for quiet some time and may touch 900 in MCX. Fundamental factors and political stress are supporting NG price at this moment. So short term buying is better preferred and selling need a confirmation that will be published here on a later time.
Natural gas Cup & handle pattern BONatural gas chart form Cup & handle pattern. It should long CMP 780 for target 860,905 and final target 1085
Inverse Head & Shoulder pattern in Natural Gas - Daily TFA similar pattern can be seen in the Daily time frame as well. A basic estimate says that the target should be achieved by early November i.e. onset of Winter when the demand will begin to peak (common sense ;)).
This looks likely until Russia opens up its heart (read supply).
Inverse Head and Shoulder pattern in Natural gas -1hr time frameNatural gas is given the Inverse Head and Shoulder pattern. Price broke out from the neck line and has retraced. This pattern will become more sustainable and powerful if we see another rally on the upside thereby confirming the greater chances of successful completion of the pattern. Fundamentally, natural gas prices are bound to go up given the shortage of it in European Markets arising due to bottlenecks in production and supply of it from Russia. Hence, this could be a great opportunity to go long once the upside is confirmed.
Note: If prices go below the right shoulder before it goes up, this pattern can be ignored.
Natural Gas Support and resistance level for 24.08.2022Plot the the levels in your chart. Draw fib level from support and resistance . Please refer chart for fib level. Fib level range should be 9 am to 11:30 PM.
If price crosses fib trendline(Dash line) will consider as upside break out. If price reject from there will consider to fall below.
if one support or resistance line broken maximum target will be 1.272 or 1.1618 fib level. Moving above 1.618 fib level is very rare scenario.
Natural Gas Support and resistance level for 23.08.2022Plot the the levels in your chart. Draw fib level from support and resistance. Please refer previous day chart for fib level. Fib level range should be 9 am to 11:30 PM.
If price crosses fib trendline(Dash line) will consider as upside break out. If price reject from there will consider to fall below.
if one support or resistance line broken maximum target will be 1.272 or 1.1618 fib level. Moving above 1.618 fib level is very rare scenario.
NATURALGAS ELLIOT WAVE COUNTSNATURALGAS has almost completed wave B of wave 2, possibly next wave C is ready to start unfolding soon, which can be confirmed by breaking support trendline, which could be aa good trigger point, Once it breaks support trendline then it can slide towards south directions near $ 7.500 zones, where wave C can complete equality with wave A.
Negative divergence in both rsi and macd on hourly time frame
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NATURAL GAS NATURAL GAS is on its all time high resistance
2 possibilities here
1) forming cup and handle so if breakout happen we are are going for long on conformation of retest are targets will be 800-850
2) strong resistance... so if we get rejection with strong candle we are going for short with stop loss on swing high (or all time high) with targets approaching 700
POSSIBLE BREAKOUT CANDIDATE!Above 751, looks hot for 760. And above 760, there's no stopping at all. Keep in watch list! :-)
Natural Gasin natural gas - c&h handle pattern,
if sustain abv 760+ tgt could be 900+++
If not cross 760 & reverse from top, Pattern In Valid
Natural GasNatural Gas:
The storage facilities data in the United States increased by 44B cubic feet vs the estimate of 39B has put some demand concerns previous week.
However, The temperatures in the US this summer remain high with several heatwaves boosting demand for air conditioners.
Additionally, The Freeport LNG has recently agreed with regulators to partially restart operations in October at its shuttered export plant in Texas and said it began to pull in tiny amounts of natural gas from pipelines.
The resumption of flows will likely to withdraw more natural gas from storage and boost exports.
Technically, Natural GAS is positive above 701 for the targets of 725
Natural Gas 1HJust placed my idea in Position drawing.
Red Zone: Resistance or Breakout Zone
Grey Zone: Repeated Hurdles (Support/Resistance)
Green Zone: Support or Breakdown Zone
Note: BUY above Red Zone
BUY at Green Zone.
SELL at Red Zone or Trail at Grey Zone
Just follow the Entry & Exit. Trail SL after 1:1 to Cost + Brokerage.
Also you can ask for my views on any chart.
natural gas live chatNote: 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.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
is this perfect time to buy natural gas..?i) Day line breakout seems to buy trend start
ii) EMA gives buy trend
iii) RSI going ..?
iv) volume increase
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kindly do your own research before buy
happy trading ..
NaturalGasNatural Gas at 4 days range support. Let's see where will go.
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NATURALGASNG Resistance 534.70, Support 522.90, 502.80, 467.90.
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NaturalGasNaturalGas - Resistance is 599.30 for Bullish BAT.
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