Posts Tagged ‘Natural Gas Daily Technical Outlook’
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Break of 3.90 resistance suggests that rise from 2.409 is resuming. Further rally should be seen to test on 4.162 key near term resistance. Break there will solidify the case that Natural gas has bottomed out and bring further rise towards 4.575 resistance next. On the downside, below 3.487 support will suggest that rebound from 2.409 might have completed and will flip bias back to the downside for retesting this low.
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
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
No change in natural gas’s sideway trading from 3.90 continues. Some more consolidation might be seen but further rise is still in favor as long as 3.321 support holds. As discussed before, with daily MACD staying positive, a short term bottom should at least be formed in 2.409. Further rise is in favor and above 3.90 will target 4.162 key near term resistance. Break there will solidify the case that Natural gas has bottomed out and bring further rise towards 4.575 resistance next. On the downside, below 3.321 support will suggest that rebound from 2.409 might have completed and will flip bias back to the downside for retesting this low.
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
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Intraday outlook in Natural gas remains neutral as sideway consolidation from 3.90 is still in progress. Nevertheless, further rise is still in favor as long as 3.321 support holds. As discussed before, with daily MACD staying positive, a short term bottom should at least be formed in 2.409. Further rise is in favor and above 3.90 will target 4.162 key near term resistance. Break there will solidify the case that Natural gas has bottomed out and bring further rise towards 4.575 resistance next. On the downside, below 3.321 support will suggest that rebound from 2.409 might have completed and will flip bias back to the downside for retesting this low.
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
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
Natural Gas continues to consolidate in range below 3.90 today. At this point, intraday outlook remains neutral. Nevertheless, with daily MACD staying positive, a short term bottom should at least be formed in 2.409. Further rise is in favor as long as 3.321 support holds and above 3.90 will target 4.162 key near term resistance. Break there will solidify the case that Natural gas has bottomed out and bring further rise towards 4.575 resistance next. On the downside, below 3.321 support will suggest that rebound from 2.409 might have completed and will flip bias back to the downside for retesting this low.
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
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
With 4 hours MACD crossed below signal line, an intraday top should be in place at 3.90. Intraday bias in Natural gas is turned neutral for the moment and some consolidations might be seen. Nevertheless, another rise is still in favor as long as 3.321 minor support holds. Above 3.90 will target a test of 4.162 key resistance. Break there will be will be an important signal that natural gas has already bottomed out. However, below 3.321 will argue that rise from 2.409 might have completed and will flip intraday bias back to the downside for retesting this low.
In the bigger picture, as discussed before, 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. 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 from 2.409 extends further today and at this point, intraday bias remains on the upside as long as 3.321 minor support holds. As discussed before, break of 4.162 resistance will be an important signal that natural gas has already bottomed out. But before that, another fall might still be seen. Below 3.321 will flip intraday bias back to the downside for retesting 2.409 low first.
In the bigger picture, as discussed before, 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 has 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. 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)
With 2.912 minor support intact, further rebound in natural gas could still be seen. However, there is no confirmation of reversal of the larger down trend as long as 4.162 resistance holds and another decline is still mildly in favor. Below 2.912 will indicate that rebound from 2.409 might have completed and will flip intraday bias back to the downside for retesting this low first.
In the bigger picture, as discussed before, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. 100% projection of 15.78 to 4.593 from 13.69 at 2.50 was already met but there is no clear sign of bottoming yet. Fall from 13.69 might still extend further as long as 4.162 resistance holds. Nevertheless, we’d expect strong support from 1.96 (02 low) to finally conclude the whole decline from 13.69. On the upside, break of 4.162 resistance will now be an important signal that natural gas has finally bottomed out.
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’ rebound from 2.409 resumed and reached as high as 3.50 so far. At this point, intraday bias is mildly on the upside as long as 2.912 minor support holds. Further rise should be seen towards 4.162 key near term resistance. On the downside, below 2.912 will indicate that rebound from 2.409 might have completed and will flip intraday bias back to the downside for retesting this low first.
In the bigger picture, as discussed before, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. 100% projection of 15.78 to 4.593 from 13.69 at 2.50 was already met but there is no clear sign of bottoming yet. Fall from 13.69 might still extend further as long as 4.162 resistance holds. Nevertheless, we’d expect strong support from 1.96 (02 low) to finally conclude the whole decline from 13.69. On the upside, break of 4.162 resistance will now be an important signal that natural gas has finally bottomed out.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
Natural Gas Daily Technical Outlook
Nymex Natural Gas (NG)
As discussed before, rebound from 2.409 is likely completed at 3.424 already. Intraday bias in natural gas is mildly on the downside for the moment. Break of 2.744 minor support should bring retest of 2.409 first. Break there will bring fall resumption to 2.0 psychological level next. On the upside, however, break of 3.424 resistance will argue that natural gas has indeed bottomed and will turn focus back to 4.162 key near term resistance.
In the bigger picture, as discussed before, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. 100% projection of 15.78 to 4.593 from 13.69 at 2.50 was already met but there is not clear sign of bottoming yet. Fall from 13.69 might still extend further as long as 4.162 resistance holds. Nevertheless, we’d expect strong support from 1.96 (02 low) to finally conclude the whole decline from 13.69. On the upside, break of 4.162 resistance will now be an important signal that natural gas has finally bottomed out.
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’ rebound from 2.409 extends further to as high as 3.33 and is now pressing 50% retracement of 4.16 to 2.409 at 3.28 and 55 days EMA (now at 3.30). Further rise could still be seen as long as 2.744 minor support holds. Sustained trading above 3.285 fibo resistance and the mentioned 55 days EMA will argue that fall from 4.162 has completed at 2.409 already. In such case stronger rally should be seen to retest this 4.162 resistance. On the downside, below 2.744 will indicate that rebound from 2.409 has completed and will flip intraday bias back to the downside for this low first.
In the bigger picture, as discussed before, medium term fall from 13.69 is treated as part of the long term consolidation pattern that started at 15.78 back in 2005. 100% projection of 15.78 to 4.593 from 13.69 at 2.50 is already met but there is no clear sign of bottoming yet. Fall from 13.69 might still extend further as long as 4.162 resistance holds. Nevertheless, we’d expect strong support from 1.96 (02 low) to finally conclude the whole decline from 13.69. On the upside, break of 4.162 resistance will now be an important signal that natural gas has finally bottomed out.
Nymex Natural Gas Continuous Contract 4 Hours Chart
Nymex Natural Gas Continuous Contract Daily Chart
