As mentioned in my weekends post, hold below 2.831 will open to weekly support/resistance 2.7 and then gap filled at 2.716/2.73 and consolidation may be coming between 2.7-2.831 unless hold above 2.831
Wednesday, July 6, 2016
Tuesday, July 5, 2016
Natural Gas trading - 5th Jul
If the head and shoulder is valid, then it will bounce from here to form the right shoulder. But if it is extremely bearish, it will just drop from here.
Sunday, July 3, 2016
Intel moving into autonomous vehicles business - Bullish long term!
BMW, Intel and computer vision firm Mobileye have signed a deal to develop autonomous vehicles.The three firms will collaborate on the systems needed to make cars that can navigate without any help from a human driver.The vehicles will be capable of driving safely along major roads as well as in suburban and inner city areas.BMW said it hoped the collaboration would mean it could put robot cars into production by 2021.Intel strategy to move away from PC to other growth areas like autonomous vehicles (this is the future, together with electric car!), cloud computing, data center and IOT should bear fruit soon. Long term target: $40-50 (The dividend payout is one of the best. What are you waiting for?)
Related Post:
Intel Technical Analysis Monthly View
Saturday, July 2, 2016
Crude Oil Trading: Weekends Post for the week 4th - 8th Jul
Crude oil is very tricky to trade now. The price is now around the lower support line of the rising wedge. If it gets inside, it could move up to the upper resistance line of the rising wedge.
After a beautiful shooting star/graveyard in the weekly chart, price is trading near to the shooting star candle level. To be bearish bias, I can view the current candle formation as shooting stars/graveyard and hanging man. To be bullish bias, I can view it as inverted hammer and hammer. Crude oil has been consolidating 6 weeks already. It would be interesting to watch if it will drop to form the right shoulder of the potential inverse head and shoulder from this level. Something to take note is there are 3 spinning tops at this level.
On a monthly basis, June has a doji candle. Market is undecided. This could mean a continuation or a reversal. Need to be careful for July trading. It gona be tricky.
Monthly support/resistance for Jul: 48.75, 48.52
After a beautiful shooting star/graveyard in the weekly chart, price is trading near to the shooting star candle level. To be bearish bias, I can view the current candle formation as shooting stars/graveyard and hanging man. To be bullish bias, I can view it as inverted hammer and hammer. Crude oil has been consolidating 6 weeks already. It would be interesting to watch if it will drop to form the right shoulder of the potential inverse head and shoulder from this level. Something to take note is there are 3 spinning tops at this level.
On a daily basis, crude oil seems to be consolidating in a descending triangle. Only time will tell.
The support/resistance level is very interesting for next week where the the daily/weekly/monthly price overlap with each other.
Daily support/resistance on 4th/5th Jul: 48.83, 48.6
Weekly support/resistance for 4th-8th Jul: 48.83, 48.75Monthly support/resistance for Jul: 48.75, 48.52
Natural Gas Trading: Weekends Post for the week 4th - 8th Jul
Natural Gas is very bullish!! Based on monthly view, it has crossed the mid of BB. I looked left of the chart with 8 years horizon and found that there were 3 instances where price crossed the mid and price started to consolidate there before deciding on the direction. However, there were 1 instance where price simply does not consolidate at the mid. Big picture tells us NG is very bullish while BB is narrowing and this usually mean NG going to trade at a narrow range soon. (Please note NG sometimes does not respect technical analysis, so be cautious as anything could happen)
In the daily view, there are 2 gaps. One at 3.464, the other at 2.716. There is another at ~1.97 which I consider as a breakaway gap - I am too slow to recognize that! I am watching if the gap at 2.716 is a ruunaway gap or a common gap to be filled soon.
Monthly support/resistance for Jul: 2.831, 2.626, 2.848, 2.675
There is a possibility that price could retrace to the monthly support/resistance at 2.831, holding below open the possibility to test the weekly support/resistance level, whereby consolidation could occur between 2.831 and 2.7.
Conclusion: I am open for a test of 2.831 as well as the bull euphoria to continue pushing price to the $3 range.
I will be very cautious going forward as NG has moved up too fast due to hot weather forecast without a nice correction. Could NG move up more? Yes it can, to close the gap above. I will be alert for the possibilities of closing the gap below as well and to wait for a nice correction to buy if there is any.
For the month of July, I will be watching for the resistance at the pink zone where cracking it open the possibility of touching the upper BB and closing the gap at 3.464. The yellow area shall be the area of support and I do think is a very strong support
As for gap up or gap down or flat on sun/mon opening? I do not know and do not want to speculate.
And Mon is US holiday and trading halt at 1300 EST.
Additional infor:
NG net position of managed money has been very bullish. Watching for the turn for signal of a correction.
In the daily view, there are 2 gaps. One at 3.464, the other at 2.716. There is another at ~1.97 which I consider as a breakaway gap - I am too slow to recognize that! I am watching if the gap at 2.716 is a ruunaway gap or a common gap to be filled soon.
However, the gap is showing at 2.73 in TOS platform. So I will be watching of for 2.73 and 2.716 gap if it is going to fill there soon.
On a weekly basis, the candle is one of the longest green candles. Usually after a long candle, there could be profit taking but I will be watching out for bull euphoria to continue next week.
Daily support/resistance on 4th/5th Jul: 2.972, 2.945
Weekly support/resistance for 4th-8th Jul: 2.7, 2.679 Monthly support/resistance for Jul: 2.831, 2.626, 2.848, 2.675
There is a possibility that price could retrace to the monthly support/resistance at 2.831, holding below open the possibility to test the weekly support/resistance level, whereby consolidation could occur between 2.831 and 2.7.
Conclusion: I am open for a test of 2.831 as well as the bull euphoria to continue pushing price to the $3 range.
I will be very cautious going forward as NG has moved up too fast due to hot weather forecast without a nice correction. Could NG move up more? Yes it can, to close the gap above. I will be alert for the possibilities of closing the gap below as well and to wait for a nice correction to buy if there is any.
For the month of July, I will be watching for the resistance at the pink zone where cracking it open the possibility of touching the upper BB and closing the gap at 3.464. The yellow area shall be the area of support and I do think is a very strong support
As for gap up or gap down or flat on sun/mon opening? I do not know and do not want to speculate.
And Mon is US holiday and trading halt at 1300 EST.
Additional infor:
NG net position of managed money has been very bullish. Watching for the turn for signal of a correction.
Natural Gas Trading: Weekends Post for the week 4th - 8th Jul
Natural Gas is very bullish!! Based on monthly view, it has crossed the mid of BB. I looked left of the chart with 8 years horizon and found that there were 3 instances where price crossed the mid and price started to consolidate there before deciding on the direction. However, there were 1 instance where price simply does not consolidate at the mid. Big picture tells us NG is very bullish while BB is narrowing and this usually mean NG going to trade at a narrow range soon. (Please note NG sometimes does not respect technical analysis, so be cautious as anything could happen)
In the daily view, there are 2 gaps. One at 3.464, the other at 2.716. There is another at ~1.97 which I consider as a breakaway gap - I am too slow to recognize that! I am watching if the gap at 2.716 is a ruunaway gap or a common gap to be filled soon.
Monthly support/resistance for Jul: 2.831, 2.626, 2.848, 2.675
There is a possibility that price could retrace to the monthly support/resistance at 2.831, holding below open the possibility to test the weekly support/resistance level, whereby consolidation could occur between 2.831 and 2.7.
Conclusion: I am open for a test of 2.831 as well as the bull euphoria to continue pushing price to the $3 range.
I will be very cautious going forward as NG has moved up too fast due to hot weather forecast without a nice correction. Could NG move up more? Yes it can, to close the gap above. I will be alert for the possibilities of closing the gap below as well and to wait for a nice correction to buy if there is any.
For the month of July, I will be watching for the resistance at the pink zone where cracking it open the possibility of touching the upper BB and closing the gap at 3.464. The yellow area shall be the area of support and I do think is a very strong support
As for gap up or gap down or flat on sun/mon opening? I do not know and do not want to speculate.
And Mon is US holiday and trading halt at 1300 EST.
Additional infor:
NG net position of managed money has been very bullish. Watching for the turn for signal of a correction.
In the daily view, there are 2 gaps. One at 3.464, the other at 2.716. There is another at ~1.97 which I consider as a breakaway gap - I am too slow to recognize that! I am watching if the gap at 2.716 is a ruunaway gap or a common gap to be filled soon.
However, the gap is showing at 2.73 in TOS platform. So I will be watching of for 2.73 and 2.716 gap if it is going to fill there soon.
On a weekly basis, the candle is one of the longest green candles. Usually after a long candle, there could be profit taking but I will be watching out for bull euphoria to continue next week.
Daily support/resistance on 4th/5th Jul: 2.972, 2.945
Weekly support/resistance for 4th-8th Jul: 2.7, 2.679 Monthly support/resistance for Jul: 2.831, 2.626, 2.848, 2.675
There is a possibility that price could retrace to the monthly support/resistance at 2.831, holding below open the possibility to test the weekly support/resistance level, whereby consolidation could occur between 2.831 and 2.7.
Conclusion: I am open for a test of 2.831 as well as the bull euphoria to continue pushing price to the $3 range.
I will be very cautious going forward as NG has moved up too fast due to hot weather forecast without a nice correction. Could NG move up more? Yes it can, to close the gap above. I will be alert for the possibilities of closing the gap below as well and to wait for a nice correction to buy if there is any.
For the month of July, I will be watching for the resistance at the pink zone where cracking it open the possibility of touching the upper BB and closing the gap at 3.464. The yellow area shall be the area of support and I do think is a very strong support
As for gap up or gap down or flat on sun/mon opening? I do not know and do not want to speculate.
And Mon is US holiday and trading halt at 1300 EST.
Additional infor:
NG net position of managed money has been very bullish. Watching for the turn for signal of a correction.
Natural Gas Trading: Weekends Post for the week 4th - 8th Jul
Natural Gas is very bullish!! Based on monthly view, it has crossed the mid of BB. I looked left of the chart with 8 years horizon and found that there were 3 instances where price crossed the mid and price started to consolidate there before deciding on the direction. However, there were 1 instance where price simply does not consolidate at the mid. Big picture tells us NG is very bullish while BB is narrowing and this usually mean NG going to trade at a narrow range soon. (Please note NG sometimes does not respect technical analysis, so be cautious as anything could happen)
In the daily view, there are 2 gaps. One at 3.464, the other at 2.716. There is another at ~1.97 which I consider as a breakaway gap - I am too slow to recognize that! I am watching if the gap at 2.716 is a ruunaway gap or a common gap to be filled soon.
Monthly support/resistance for Jul: 2.831, 2.626, 2.848, 2.675
There is a possibility that price could retrace to the monthly support/resistance at 2.831, holding below open the possibility to test the weekly support/resistance level, whereby consolidation could occur between 2.831 and 2.7.
Conclusion: I am open for a test of 2.831 as well as the bull euphoria to continue pushing price to the $3 range.
I will be very cautious going forward as NG has moved up too fast due to hot weather forecast without a nice correction. Could NG move up more? Yes it can, to close the gap above. I will be alert for the possibilities of closing the gap below as well and to wait for a nice correction to buy if there is any.
For the month of July, I will be watching for the resistance at the pink zone where cracking it open the possibility of touching the upper BB and closing the gap at 3.464. The yellow area shall be the area of support and I do think is a very strong support
As for gap up or gap down or flat on sun/mon opening? I do not know and do not want to speculate.
And Mon is US holiday and trading halt at 1300 EST.
Additional infor:
NG net position of managed money has been very bullish. Watching for the turn for signal of a correction.
In the daily view, there are 2 gaps. One at 3.464, the other at 2.716. There is another at ~1.97 which I consider as a breakaway gap - I am too slow to recognize that! I am watching if the gap at 2.716 is a ruunaway gap or a common gap to be filled soon.
However, the gap is showing at 2.73 in TOS platform. So I will be watching of for 2.73 and 2.716 gap if it is going to fill there soon.
On a weekly basis, the candle is one of the longest green candles. Usually after a long candle, there could be profit taking but I will be watching out for bull euphoria to continue next week.
Daily support/resistance on 4th/5th Jul: 2.972, 2.945
Weekly support/resistance for 4th-8th Jul: 2.7, 2.679 Monthly support/resistance for Jul: 2.831, 2.626, 2.848, 2.675
There is a possibility that price could retrace to the monthly support/resistance at 2.831, holding below open the possibility to test the weekly support/resistance level, whereby consolidation could occur between 2.831 and 2.7.
Conclusion: I am open for a test of 2.831 as well as the bull euphoria to continue pushing price to the $3 range.
I will be very cautious going forward as NG has moved up too fast due to hot weather forecast without a nice correction. Could NG move up more? Yes it can, to close the gap above. I will be alert for the possibilities of closing the gap below as well and to wait for a nice correction to buy if there is any.
For the month of July, I will be watching for the resistance at the pink zone where cracking it open the possibility of touching the upper BB and closing the gap at 3.464. The yellow area shall be the area of support and I do think is a very strong support
As for gap up or gap down or flat on sun/mon opening? I do not know and do not want to speculate.
And Mon is US holiday and trading halt at 1300 EST.
Additional infor:
NG net position of managed money has been very bullish. Watching for the turn for signal of a correction.
Natural Gas Trading: Weekends Post for the week 4th - 8th Jul
Natural Gas is very bullish!! Based on monthly view, it has crossed the mid of BB. I looked left of the chart with 8 years horizon and found that there were 3 instances where price crossed the mid and price started to consolidate there before deciding on the direction. However, there were 1 instance where price simply does not consolidate at the mid. Big picture tells us NG is very bullish while BB is narrowing and this usually mean NG going to trade at a narrow range soon. (Please note NG sometimes does not respect technical analysis, so be cautious as anything could happen)
In the daily view, there are 2 gaps. One at 3.464, the other at 2.716. There is another at ~1.97 which I consider as a breakaway gap - I am too slow to recognize that! I am watching if the gap at 2.716 is a ruunaway gap or a common gap to be filled soon.
Monthly support/resistance for Jul: 2.831, 2.626, 2.848, 2.675
There is a possibility that price could retrace to the monthly support/resistance at 2.831, holding below open the possibility to test the weekly support/resistance level, whereby consolidation could occur between 2.831 and 2.7.
Conclusion: I am open for a test of 2.831 as well as the bull euphoria to continue pushing price to the $3 range.
I will be very cautious going forward as NG has moved up too fast due to hot weather forecast without a nice correction. Could NG move up more? Yes it can, to close the gap above. I will be alert for the possibilities of closing the gap below as well and to wait for a nice correction to buy if there is any.
For the month of July, I will be watching for the resistance at the pink zone where cracking it open the possibility of touching the upper BB and closing the gap at 3.464. The yellow area shall be the area of support and I do think is a very strong support
As for gap up or gap down or flat on sun/mon opening? I do not know and do not want to speculate.
And Mon is US holiday and trading halt at 1300 EST.
Additional infor:
NG net position of managed money has been very bullish. Watching for the turn for signal of a correction.
In the daily view, there are 2 gaps. One at 3.464, the other at 2.716. There is another at ~1.97 which I consider as a breakaway gap - I am too slow to recognize that! I am watching if the gap at 2.716 is a ruunaway gap or a common gap to be filled soon.
However, the gap is showing at 2.73 in TOS platform. So I will be watching of for 2.73 and 2.716 gap if it is going to fill there soon.
On a weekly basis, the candle is one of the longest green candles. Usually after a long candle, there could be profit taking but I will be watching out for bull euphoria to continue next week.
Daily support/resistance on 4th/5th Jul: 2.972, 2.945
Weekly support/resistance for 4th-8th Jul: 2.7, 2.679 Monthly support/resistance for Jul: 2.831, 2.626, 2.848, 2.675
There is a possibility that price could retrace to the monthly support/resistance at 2.831, holding below open the possibility to test the weekly support/resistance level, whereby consolidation could occur between 2.831 and 2.7.
Conclusion: I am open for a test of 2.831 as well as the bull euphoria to continue pushing price to the $3 range.
I will be very cautious going forward as NG has moved up too fast due to hot weather forecast without a nice correction. Could NG move up more? Yes it can, to close the gap above. I will be alert for the possibilities of closing the gap below as well and to wait for a nice correction to buy if there is any.
For the month of July, I will be watching for the resistance at the pink zone where cracking it open the possibility of touching the upper BB and closing the gap at 3.464. The yellow area shall be the area of support and I do think is a very strong support
As for gap up or gap down or flat on sun/mon opening? I do not know and do not want to speculate.
And Mon is US holiday and trading halt at 1300 EST.
Additional infor:
NG net position of managed money has been very bullish. Watching for the turn for signal of a correction.
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