Natural Gas (NG) Holds trendline support 6/10

Natural Gas daily chart to our left here, and after we broke the trend line in green shown last week, it looks like yesterday's mini flash crash punctured through it and tested the 50% retrace of its most recent up move shown in purple. Holding that level and then closing pretty much on the green trend line, we now head up and look to easily close well above the trendline. I think we have the makings of a breakout of this channel for natural gas and I could see this continuing up for a while.

Crude Oil (CL) / Natural Gas (NG) Update 6/2

On the left is an hourly chart of Crude Oil (CL) and the right is a daily chart of Natural Gas (NG). It looks like after a very bearish build in oil, we have seen a continuation of yesterdays sell off, and have broken through 100 and are headed to the lowest end of the up moves retracement (in purple, @98.21). I think this will eventually break through here and end up near recent lows @96. Natural gas, I had posted the other day that the yellow trend line might give resistance and the long position suggested should probably be taken off. It looks like after a bullish build in inventory, that we have gone right through this resistance and might be looking to break out to the upside.

Natural Gas (NG) Daily 6/1

If you had taken my suggestion to get long natural gas in previous posts, and also saw my thoughts on where to take profits, well then listen here. Looking at a zoomed out daily chart of natural gas, it looks like its running into a previous trendline right here (@4.7, shown in yellow) and may be headed back to the lower area of this channel formed by the lower yellow line. I think this is as good of place as any to take all profits and wait for a pullback to get back in.

Natural Gas (NG) Daily 5/31

As a quick update to the trade idea presented originally to buy natural gas, and also to BTFD off a bearish number, it looks like its working out. It's time to start looking for a target on this trade and the previous peak (@4.729) or the 100% extension of the previous move (@4.827) are both good areas to exit this trade.

Natural Gas (NG) Bearish Number BTFD? 5/26

 After a bearish number for the natural gas storage (more than expected in storage at 105B vs expected 93B), we saw a sharp sell off. I think its is a great opportunity to BTFD and get in on this trade suggested in an earlier post. We see on the daily chart the confluence of retracements at the 4.325-4.312 range. While currently its just under this, it has held its recent uptrend's retracement. I think this holds well and we see a move back to its hights today in the 4.45-4.48 area. Everything else about this trade still looks great and the initial entry signal was a good one so far. So I've said it once and ill say it again, by that fucking dip




EDIT: just in case you are wondering, you can play NG in the stock ticket UNG (United States Natural Gas Fund) or in Direxion Daily Natural Gas Related Bull 2x Shares ETF (FCGL)

Copper (NG) End Of Day 5/24

Copper on a daily basis has been in a well formed down trend for over a month now, forming well defined lower lows and lower highs. I also personally think its important to see a trend hold its retracements, and especially its confluence of retracements which we see in the daily chart with the 38.2% of the green and 50% of the purple retracement around 4.1127-4.1285. Looking even closer on the hourly chart over the last few days, we see a good test and hold of the 4.05-4.025 levels. There is also some continuation divergence in the RSI as highlighted by the yellow lines. I think this is a good play to the downside right where the market opens tonight and easily see this making new yearly lows within a week or so.

Natural Gas (NG) End Of Day 5/24

As an update to the Natural Gas post originally suggesting a long position after a nice engulfing pattern off of support, I bring you the two charts to our left. I suggested waiting for a move down to get in and there was at least one opportunity today (@4.276), the 38.2% retracement of the move from its lows to its highs today. On a daily chart it looks like it has cracked and closed right about the first retrace of the sell off in early may, and the hourly shows it testing the retracement downwards intra-day, only to sharply reject it and head back up. I entered today on that quick down move and believe this position is still healthy and look to take some off at the 61.8% (@4.482) and only stop out if we fall and close below 4.2.

Natural Gas (NG) Daily 5/23 11:10 AM CST

It looks like Natural Gas has confirmed the engulfing pattern seen on Friday (5/20). I love this setup when we just break support (@ 4.15) one day and the next engulf back up through it. Both Thursday and Friday were relatively high volume days too just to confirm this was no market BS. You can also see the positive divergence shown from the two low points with the MACD, usually a good indication of a continuing trend. I would look for this to eventually make a new high, and will be looking to enter if there is any pullback today or tomorrow.