Posts Tagged ‘Natural Gas Daily Technical Outlook’
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Intraday bias in Natural Gas remains neutral for the moment and some more consolidation might be seen. Nevertheless short term outlook will remain bullish as long as 4.351 minor support holds. Above 5.120 will bring resumption of whole rise form 2.409 and should target 38.2% retracement of 13.64 to 2.409 at 6.7 next. However, considering bearish divergence condition in 4 hours MACD, break of 4.351 will indicate that a short term top is formed and will bring deeper pull back instead.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. The whole consolidation might have completed at 2.409 after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. We’ll prefer the bullish case as long 55 days EMA (now at 3.842 holds) and expect the current rise from 2.409 to extend further to 61.8% retracement of 13.64 to 2.409 at 9.38 in medium term.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
No change in natural gas’ outlook so far. While some more sideway trading might be seen, further rise is expected with 4.351 minor support intact. Current rebound from 2.409 is still in favor to extend further to 38.2% retracement of 13.64 to 2.409 at 6.7 next. However, considering mild bearish divergence condition in 4 hours MACD, break of 4.351 will indicate that a short term top is formed and bring longer consolidations before resuming the rise from 2.409.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. The whole consolidation might have completed at 2.409 after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. We’re looking at the prospect of medium term rise to 61.8% retracement of 13.64 to 2.409 at 9.38 in medium term.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Natural gas is staying in tight range today and some sideway trading might be seen. But after all, further rise is expected with 4.351 minor support intact. Current rebound from 2.409 is still in favor to extend further to 38.2% retracement of 13.64 to 2.409 at 6.7 next. However, considering mild bearish divergence condition in 4 hours MACD, break of 4.351 will indicate that a short term top is formed and bring longer consolidations before resuming the rise from 2.409.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. The whole consolidation might have completed at 2.409 after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. We’re looking at the prospect of medium term rise to 61.8% retracement of 13.64 to 2.409 at 9.38 in medium term.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Natural gas’s rise lost some steam after taking out 4.975 but after all, further rise is expected with 4.351 minor support intact. Current rebound from 2.409 is still in favor to extend further to 38.2% retracement of 13.64 to 2.409 at 6.7 next. However, considering mild bearish divergence condition in 4 hours MACD, break of 4.351 will indicate that a short term top is formed and bring longer consolidations before resuming the rise from 2.409.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. The whole consolidation might have completed at 2.409 after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. We’re looking at the prospect of medium term rise to 61.8% retracement of 13.64 to 2.409 at 9.38 in medium term.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Natural gas’s pull back from 4.975 is still in progress and intraday bias remains neutral for the moment as some more consolidations could be seen. Nevertheless, as discussed before, a bottom should be formed at 2.409 already. Downside should be contained above 3.635 and bring rally resumption. Current rise is expected to continue towards 38.2% retracement of 13.64 to 2.409 at 6.7 next. On the downside, break of 3.635 is needed to indicate that the rebound has completed. Otherwise, short term outlook will remain bullish.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. The whole consolidation might have completed at 2.409 after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. We’re looking at the prospect of medium term rise to 61.8% retracement of 13.64 to 2.409 at 9.38 in medium term.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Intraday bias in natural gas is turned neutral for the moment and some consolidations might be seen. Nevertheless, as discussed before, a bottom should be formed at 2.409 already. Downside should be contained above 3.635 and bring rally resumption. Current rise is expected to continue towards 38.2% retracement of 13.64 to 2.409 at 6.7 next. On the downside, break of 3.635 is needed to indicate that the rebound has completed. Otherwise, short term outlook will remain bullish.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. The whole consolidation might have completed at 2.409 after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. We’re looking at the prospect of medium term rise to 61.8% retracement of 13.64 to 2.409 at 9.38 in medium term.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Outlook in natural gas remains unchanged. A bottom should be formed at 2.409 already and further rise is still expected as long as 3.635 support holds. Current rebound might extend further towards 38.2% retracement of 13.64 to 2.409 at 6.7 next. On the downside, break of 3.635 is needed to indicate that the rebound has completed. Otherwise, short term outlook will remain bullish.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. The whole consolidation might have completed at 2.409 after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. We’re looking at the prospect of medium term rise to 61.8% retracement of 13.64 to 2.409 at 9.38 in medium term.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Developments in Natural gas continue to indicate that it has bottomed out at 2.409 already. Further upside is still expected as long as 3.635 support holds. Current rebound might extend further towards 38.2% retracement of 13.64 to 2.409 at 6.7 next. On the downside, break of 3.635 is needed to indicate that the rebound has completed. Otherwise, short term outlook will remain bullish.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. The whole consolidation might have completed at 2.409 after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. We’re looking at the prospect of medium term rise to 61.8% retracement of 13.64 to 2.409 at 9.38 in medium term.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
While upside momentum in natural gas might be diminishing with bearish divergence conditions in 4 hours MACD, further rise is still in favor with 3.733 minor support intact. Break of 4.162 key near term resistance will solidify the case that Natural gas has bottomed out and bring further rise towards 4.575 resistance next. On the downside, below 3.733 will indicate that a short term top is in place and bring pull back first.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. With daily MACD staying positive, a short term bottom should at least be in place at 2.409. Also, such development argues that fall from 13.69 might have completed after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. Break of 4.162 resistance will affirm this case and bring stronger rally to test 55 weeks EMA (now at 4.76) and then 38.2% retracement of 13.69 to 2.40 at 6.71. Nevertheless, another fall could still be seen as long as 4.162 holds. Still, we’d expect strong support from 1.96 (02 low) to finally conclude the whole decline from 13.69.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Natural gas’ rise is still in progress and should be target 4.162 resistance. As discussed before, break there will solidify the case that it has bottomed out in medium term already and in such case, further rally should be seen to 4.575 resistance next. On the downside, below 3.733 minor support will indicate that an intraday top is formed and will turn bias back to the downside for some pull back.
In the bigger picture, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. With daily MACD turned positive, a short term bottom should at least be in place at 2.409. Also, such development argues that fall from 13.69 might have completed after meeting 100% projection of 15.78 to 4.593 from 13.69 at 2.50. Break of 4.162 resistance will affirm this case and bring stronger rally to test 55 weeks EMA (now at 4.79) and then 38.2% retracement of 13.69 to 2.40 at 6.71. Nevertheless, another fall could still be seen as long as 4.162 holds. Still, we’d expect strong support from 1.96 (02 low) to finally conclude the whole decline from 13.69.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
