Natural Gas Trading: Weekends Post for the week28th Nov - 2nd Dec

Winter cold is coming and NG has a nice rally this week. Next week with new contract, is a different play. Will it continue to rally? Will it close the gap that started this rally?


Looking at the monthly HS candle, the candle has a doji in Nov. A big move is coming in Dec. It is either a continuation of the rally or a reversal. Dec will be exciting month to trade!

 In the 5hr TF, we see there are 2 gaps below. Will the gap be filled before any meaningful upmove?  Time will tell!

Daily support/resistance on 28th Nov: 3.068, 3.061 (NGF7: 3.182, 3.169)
Weekly support/resistance from 28th Nov - 2nd Dec: 3.049, 3.006 (NGF7: 3.167, 3.126)
Monthly support/resistance for Nov: 2.997, 2.986
Monthly support/resistance for Dec: 3.216, 2.957 (NGF7: 3.246, 3.045)
2016 Yearly support/resistance: 2.406, 2.518

Crude Oil Trading: Weekends Post for the week 28th Nov - 2nd Dec

CL has a bearish week though weekly candle is green. Price went back inside the rising wedge but quickly go down. It may test the downtrend support line next week. If there is no bullish news from OPEC next week, the H&S pattern may be valid and down it goes. For now, your guess is as good as mine.

Daily support/resistance on 28th Nov: 46.33, 47.07
Weekly support/resistance from 28th Nov - 2nd Dec: 46.49, 47.54
Monthly support/resistance for Nov: 47.65, 49.43
2016 Yearly support/resistance: 40.90, 48.56

Crude Oil Trading: Weekends Post for the week 21st Nov - 25th Nov

CL is bullish this week due to OPEC has a meeting for production cut and some comment by Russia energy minister. From the daily TF, the price is resisted by the lower trend line of the rising wedge. If the H&S is valid, price would likely move up to form the right shoulder before the actual OPEC meeting.

Daily support/resistance on 21st Nov: 46.15, 45.82
Weekly support/resistance from 21st Nov - 25th Nov: 45.77, 44.66, CLF7: 45.89, 45.04
Monthly support/resistance for Nov: 47.65, 49.43
2016 Yearly support/resistance: 40.90, 48.56

Natural Gas Trading: Weekends Post for the week 21st Nov - 25th Nov

NG is trading at a small range this week but ended this week with a green candles. From the daily TF, price is bouncing from the lower support trendline.

 In the monthly TF, price has already been consolidating for around 5 months. Price is holding above the mid of BB which is good for bull. The BB is narrowing. A big move is coming soon.

From the 5hr chart, price has moved into a resistance area. If it breaks that resistance, $3 should be on the way. Otherwise, price should retreat back down to test the 2.5-2.7 area again.

Daily support/resistance on 21st Nov: 2.822, 2.771
Weekly support/resistance from 21st Nov - 25th Nov: 2.814, 2.748
Monthly support/resistance for Nov: 2.997, 2.986
2016 Yearly support/resistance: 2.406, 2.518

Crude Oil Trading: Weekends Post for the week 14th Nov - 18th Nov

It is tricky to do a swing trade for CL now as it has broken below the resistance trend line, resisted by the inverse HS neckline and having a triple top. If the inverse HS is valid, the right should may or may not be fully developed yet. At the same time, price seem to be at the support area (yellow region) and if a HS is valid, price could bounce and form the right shoulder (46-48) before dropping to find support for inverse HS right shoulder. Complicated patterns, isn't it?

In the weekly TF, price is currently supported by ichimoku cloud. We shall see if the cloud will continue to support price.

In the monthly TF, price is flirting at the mid of BB. A consolidation is seen around this area.

With so many events influencing CL, it is not easy to hold a swing trade. Better to trade each day.

Daily support/resistance on 14th Nov: 43.36, 43.83
Weekly support/resistance from 14th Nov - 18th Nov: 44.49, 43.58
Monthly support/resistance for Nov: 47.65, 49.43
2016 Yearly support/resistance: 40.90, 48.56

Natural Gas Trading: Weekends Post for the week 14th Nov - 18th Nov

NG has a bearish week. From the daily TF, we could see three areas of support (A, B, C). NG is currently at support A, If support A fails, it could test support B. If winter is gona be warmer than normal, NG shall test support C. We shall see if support A holds as there seems to be a lot of buying there.

In monthly TF, NG is testing the mid of BB. If it holds, NG could bounce. Otherwise, test of lower support below is possible.

In the weekly TF, price is still above the ichimoku cloud. I am watching if NG will test the ichimoku cloud soon.

Coming winter forecast is important and Trump's policy towards energy industry could also change its fate. Be vigilant!

Daily support/resistance on 14th Nov: 2.624, 2.620 
Weekly support/resistance from 14th Nov - 18th Nov: 2.711, 2.654
Monthly support/resistance for Nov: 2.997, 2.986
2016 Yearly support/resistance: 2.406, 2.518

Crude Oil Trading: Weekends Post for the week 7th Nov - 11th Nov

CL resisted by the neckline of the potential inverse HS and breaks below the downtrend line. Now it is possible to test the dotted line below. The right shoulder could be still be developing. OPEC meeting end of Nov and the OPEC and Non-OPEC members are simply flick flopping to cut or not to cut production. LOL Just trade and don't hold too long for oil. It is just a manipulative market.

Daily support/resistance on 7th Nov: 44.22, 44.16
Weekly support/resistance from 7th Nov - 11th Nov: 46.16, 44.81
Monthly support/resistance for Oct: 47.25, 45.66
Monthly support/resistance for Nov: 47.65, 49.43
2016 Yearly support/resistance: 40.90, 48.56

Natural Gas Trading: Weekends Post for the week 7th Nov - 11th Nov

NG closed the contract gap this week and is at the rising wedge lower support. There is a gap below $2. If price breaks down the rising wedge decisively, maybe that gap could be filled one day. Otherwise, there is a risk of bouncing from the lower support.

From monthly TF, Oct has a doji candle. This signal either the rally is pausing a reversal. I am also watching if price would retreat back to test the mid of BB which is around 2.5.

Winter is coming and storage may exceed 4TCF. IS tricky time to be in trade until winter outlook is clear.

Daily support/resistance on 7th Nov: 2.781
Weekly support/resistance from 7th Nov - 11th Nov: 2.944, 2.835
Monthly support/resistance for Oct: 2.896, 2.882
Monthly support/resistance for Nov: 2.997, 2.986
2016 Yearly support/resistance: 2.406, 2.518