As pattern often repeat themselves, natgas operate in his bottom area 1,50 /2,00 and can evolve in this range few times.This recent downfall brought the price down and its a good spot to try long since i can see it pushing up before any more downside. in larger timeframe rsi provide us a bullish divergence and is oversold but i tend to not give too much importance on "oversold" signal on NATGAS who can go lower for eternity...Regarding weather data it seems US will have cooler and slighty under average temperature for next coming weeks, but stock are still almost full. Only rigs cuts, withdrawl storage data and positive earnings reports of major NATGAS company will be able to bring natgas above the psychological price of 2 and make him hold above.
評論:
please leave a comment if its useful or like the idea or if i have mistake on something regarding earnings date or analysis. reminding all this is not trading advice and you should trade accordingly to your plan and own ideas.
評論:
Cherry on the cake i just notice we have NGS earnings today with ( natural gas services) with agaon all previous earnings above expectations so let's see how the publication of the earnings report today impact the natgas price. i did not dig into this company but we hope storage data plus earnings reports will provide us some volatility today .
評論:
everything goes according to the plan for now . first target is 1,81. some earning report tonight will be priced tomorow so i think the up trend will continue until 1,81 area.
評論:
Break up or rejection from here
評論:
Natgas is on EMA 29 support and the bottom of his oblique support in 1H and 4H , need to hold to go higher or we can see it coming back to 1,63 if break down
評論:
Still waiting for higher push up around 1.81 area before going down. let's see what the market will offer us today.
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