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

Natural Gas Trading: Weekends Post for the week 5th Dec- 9th Dec

Super rally this week. Upper gap closed. Will it continue upwards movement to close the next upper gap or a correction to close gaps below? Weather shall dictate going forward now.

In the monthly TF, price is now heading to resistance area. It looks like any rally will not last long for the time being until a very cold weather is confirmed.

Daily support/resistance on 5th Dec: 3.473, 3.461
Weekly support/resistance from 5th Dec- 9th Dec: 3.44, 3.41
Monthly support/resistance for Dec: 3.216, 2.957 (NGF7: 3.246, 3.045)
2016 Yearly support/resistance: 2.406, 2.518