Crude Oil Trading: Weekends Post for the week 6th Feb - 10th Feb 2017

Nothing much has changed for CL. Looking bullish but be cautious at the same time.

Daily support/resistance on 6th Feb: 53.84, 53.81
Weekly support/resistance from 6th Feb - 10th Feb : 53.66, 53.29
Monthly support/resistance for Feb: 52.98, 52.86 (CLH7: 53.16, 53.89' CLJ7: 53.86, 54.67)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 6th Feb - 10th Feb 2017

NG is bearish. It has broken out of the tight range in the weekly TF. First gap below filled. It looks like the second gap to be filled is on its way.


Inthe daily TF, price is touching the lower BB and it could trigger dead cat bounce to mid of BB which is also around the ichimoku cloud.

 In the monthly TF, price is nearing the doji candles on the left which could mean NG may trade sideways for a while unless some very bullish news to trigger large short covering. I am watching if NG bounce after touching the lower channel.

All in all, be cautious on being a bulls or bears at this level.

Daily support/resistance on 6th Feb: 3.076, 3.122
Weekly support/resistance from 6th Feb - 10th Feb: 3.099, 3.192
Monthly support/resistance for Feb: 3.199, 3.333  (NGH7: 3.196, 3.323 )
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 30th Jan - 3rd Feb 2017

CL is still hanging around the neckline as can be seen in the daily and weekly TF. A hammer is formed at the neckline. Let's see if it translate to any upwards movement next week.

Daily support/resistance on 30th Jan: 53.24, 53.33
Weekly support/resistance from 30th Jan - 3rd Feb : 53.18, 53.15
Monthly support/resistance for Jan: 53.18, 51.75  (CLG7: 53.49, 52.69)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 30th Jan - 3rd Feb 2017

NG moved in a narrow range this week. From the weekly TF, it is quite clear that price is within the range inside the blue rectangle. Any breakout will move price to the upper or lower gap target.

From the daily TF, a green hammer is found on the mid of BB. It is not a perfect hammer as there the upper shadow is slightly longer than it should be.

From the monthly TF, I am watching if price will be moved to the mid of BB which is also at around the highlighted area. This could happen in the next couple of months.

Sideways movement for now until a clear direction is known.

Daily support/resistance on 30th Jan: 3.371, 3.337
Weekly support/resistance from 30th Jan - 3rd Feb:3.365, 3.32
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 23rd - 27th Jan 2017

The battle is still around the neckline. If supply starts to balance in 2017, I suppose price should go up. But then if shale players starts to increase production due to higher price, price would not go a lot higher.

Daily support/resistance on 23rd Jan: 53.13, 52.90
Weekly support/resistance from 23rd - 27th Jan : 53.06, 52.70
Monthly support/resistance for Jan: 53.18, 51.75  (CLG7: 53.49, 52.69)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 23rd - 27th Jan 2017

NG has a very bearish week! From the weekly TF, price is consolidating at the mid of BB. If the mid point holds, it could bounce and close the gap above. If it can't it could close the gap below.



From the daily TF, price is breaking the trend line support. If it can't hold (it seems it will not hold), good luck bulls. If it holds, surely the gap above could be the next target.

From the monthly TF, I am looking if price will touch the highlighted area this month or next month.

Daily support/resistance on 23rd Jan: 3.268, 3.221
Weekly support/resistance from 23rd - 27th Jan: 3.351, 3.249
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 16th - 20th Jan 2017

CL is still flirting at the neckline of inverse HS. Staying above would be good for bull, staying below good for bear. Enough said.

Daily support/resistance on 16th Jan: 52.59, 52.72
Weekly support/resistance from 16th - 20th Jan : 52.44, 52.27
Monthly support/resistance for Jan: 53.18, 51.75  (CLG7: 53.49, 52.69)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 16th - 20th Jan 2017

NG has a bullish week. The shooting star formed 2 weeks ago hinted of bearish movement and it indeed moved down creating a evening star pattern but price managed to climb back. The question is will it close the upper gap first or lower gap first? Tricky as weather pattern is unpredictable.



In the daily TF, a inside bar candle can be seen and a bigger move should happen in 1 or 2 days time. We can also see the ichimoku cloud is supporting the price at the moment. Daily TF stochastic is turning up but weekly TF stochastic is not good for bull though.

Price is between upper and lower gap which are near to the current price. Expect a volatile week ahead. President trump inauguration day may provide some direction.

Daily support/resistance on 16th Jan: 3.409, 3.384
Weekly support/resistance from 16th - 20th Jan: 3.274, 3.373
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 9th - 13th Jan 2017

Busy during the weekends.. Charts may be post later..

Daily support/resistance on 9th Jan: 53.74, 53.82
Weekly support/resistance from 9th - 13th Jan : 53.69, 53.68
Monthly support/resistance for Jan: 53.18, 51.75  (CLG7: 53.49, 52.69)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 9th - 13th Jan 2017

Busy during the weekends.. Charts may be post later..

Daily support/resistance on 9th Jan: 3.286, 3.27
Weekly support/resistance from 9th - 13th Jan: 3.37, 3.298
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757

Ausgroup Ltd Technical Analysis Jan 2017

Ausgroup is in a falling wedge in the daily TF. It had broken up the falling wedge and now back-test the resistance line. It has resolved it Port Melville issue but it debt issue has not yet resolved. We shall know soon in Jan and I think this should get resolve.

The first target will be the red zone and looking for it to break the falling wedge some time this year.
The second target will be the yellow zone.The third target could only be achieved if it breaks up the yellow zone convincingly. This could happen when the Port Melville resume operation and complete the projects there, and oil and gas price recover.

Crude Oil Trading: Weekends Post for the week 3rd - 6th Jan 2017

CL is above the neckline of the inverse HS now. The inverse HS if valid, the measured move is around 70-75. Buy on dip!

Daily support/resistance on 3rd Jan: 53.84, 53.75
Weekly support/resistance from 3rd - 6th Jan : 53.83, 53.7
Monthly support/resistance for Jan: 53.18, 51.75  (CLG7: 53.49, 52.69)
Monthly support/resistance for Dec: 48. 46.05 (CLF7:  48.13, 46.43)
2017 Yearly support/resistance: 49.35, 40.28
2016 Yearly support/resistance: 40.90, 48.56

Natural Gas Trading: Weekends Post for the week 3rd - 6th Jan 2017

NG makes new high at ~3.9 and traders started to take profit before 2017. From the daily TF, it seems like a island formed at the top but gap was closed though. Will be monitoring if this "island reversal" is valid.

 In the weekly TF, a shooting star is formed. Price is at the upper channel. Will price pullback to the lower channel?

From the monthly TF, most of the time price overshoot the upper BB, it will correct. I am looking if it will correct soon or makes new high before really correct. The monthly stochastic is at over-bought level but it could remain over-bought for a while!

Daily support/resistance on 3rd Jan: 3.754, 3.774
Weekly support/resistance from 3rd - 6th Jan: 3.786, 3.758
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
Monthly support/resistance for Dec: 3.216, 2.957 (NGF7: 3.246, 3.045)
2017 Yearly support/resistance: 3.415, 2.757
2016 Yearly support/resistance: 2.406, 2.518

Natural Gas Trading: Weekends Post for the week 27th Dec- 30th Dec

NG has a wonderful rally. I am watching if the upper channel holds or break up to be confirmed. Though the Stochastic is warning a (short term) peak is coming.

As mentioned previously, quite often once price moved out of the BB a retracement could happen. Watching if it will test the lower channel highlighted in yellow.

Daily support/resistance on 27th Dec: 3.625, 3.66
Weekly support/resistance from 27th Dec- 30th Dec: 3.611, 3.479
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 27th Dec- 30th Dec

Crude oil is above $50. Watching the neckline if it holds. If so, much higher!

Daily support/resistance on 27th Dec: 53.09, 52.77
Weekly support/resistance from 27th Dec- 30th Dec: 53.15, 52.94
Monthly support/resistance for Dec: 48. 46.05 (CLF7:  48.13, 46.43)
2016 Yearly support/resistance: 40.90, 48.56

Crude Oil Trading: Weekends Post for the week 19th Dec- 23rd Dec

CL is trying to break out of the neckline this week but can't hold above.

From weekly TF, doji candle appears at the neckline. This is tricky for swing trade. I will be looking for a short term reverse or continuation of rally.

Daily support/resistance on 19th Dec: 52.85, 52.36
Weekly support/resistance from 19th Dec- 23rd Dec: 52.81, 52.23
Monthly support/resistance for Dec: 48. 46.05 (CLF7:  48.13, 46.43)
2016 Yearly support/resistance: 40.90, 48.56

Natural Gas Trading: Weekends Post for the week 19th Dec- 23rd Dec

NG has a bearish week. As mentioned last week that a possible correction is coming. Based on weekly TF, price goes down after hitting the upper channel. Will it continue to go down to the lower channel?


From daily TF, a small hammer is formed at the mid of BB. Will it bounce off or drop below and test the ichimoku cloud below?

From the monthly TF, price has already break out of the first downtrend resistance. There is a possibility price may retest it before going up.

After all, weather forecast is going to dictate the direction going forward.

Daily support/resistance on 19th Dec: 3.384, 3.389
Weekly support/resistance from 19th Dec- 23rd Dec: 3.472, 3.412
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 12th Dec- 16th Dec

Price is near the neckline of the inverse HS. With the recent news that OPEC and non-OPEC has an agreement to cut production, price might break the neckline this time. Let's see on Mon.

Daily support/resistance on 12th Dec: 51.41, 51.26
Weekly support/resistance from 12th Dec- 16th Dec: 51.33, 51.02
Monthly support/resistance for Dec: 48. 46.05 (CLF7:  48.13, 46.43)
2016 Yearly support/resistance: 40.90, 48.56

Natural Gas Trading: Weekends Post for the week 12th Dec- 16th Dec

NG has another bullish week! From the weekly TF, it can be seen price broke the ascending channel but at the same time, price is well outside of the BB. Looking at the chart from the left, we see that once the price is out of the BB, a good correction follows shortly. Will it continue the uptrend to $4 or correct to $3?

However, from the daily TF, we can see 2 shooting stars and the week ended with a spinning top which represent indecision. It seems to hint that the rally is about to come to a stall soon. I would like to see it testing the ichimoku cloud below. (Do take note with NG, anything is possible, it could even rally all the way to $4 first.)

In the monthly TF, price has broken the downtrend line. There is another downtrend line too. So, NG might move between this 2 trendline going forward. It means it could also test the first trendline and on very bullish news, test the second trendline above.

Daily support/resistance on 12th Dec: 3.722, 3.719
Weekly support/resistance from 12th Dec- 16th Dec: 3.687, 3.614
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 5th Dec- 9th Dec

OPEC cut production and oil rally. Now it is heading to the neckline of the inverse HS. Will it break this time?




Daily support/resistance on 5th Dec: 51.44, 50.96
Weekly support/resistance from 5th Dec- 9th Dec: 50.56. 48.31
Monthly support/resistance for Dec: 48. 46.05 (CLF7:  48.13, 46.43)
2016 Yearly support/resistance: 40.90, 48.56