Natural GasTrading: Weekends Post for the week 1st May - 5th May 2017

NG is back to the resistance line which is also the neckline of the inverse HS. However there is a gap below. Would it be filled before breaking the neckline?

In the monthly TF, spinning top is formed. May shall be a big move month IMO.

In the weekly TF, a bullish engulfing candle is seen. NG is bullish again. Buy on dip.

Daily support/resistance on 1st May: 3.267, 3.264
Weekly support/resistance from 1st May - 5th May: 3.233, 3.160
Monthly support/resistance for May: 3.241, 3.185  (NGM7: 3.271, 3.274 )
Monthly support/resistance for Apr: 3.125, 2.992  (NGK7: 3.143, 3.045 )
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 1st May - 5th May 2017

Weekly spinning top for crude oil this week. It is bouncing at those trendlines as shown below.If those holds, expect it to go above 50 again.

From the daily TF, it is hovering around the 200 MA/EMA too.

 From monthly TF, a DIB can be seen. A big move is coming in the next 1 to 2 months.

From 1hr TF, an inverse HS seems to be forming. If it is valid, expect above 50 next week.

Daily support/resistance on 1st May: 49.22, 49.28
Weekly support/resistance from 1st May - 5th May: 49.2, 49.21
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 24th Apr - 28th Apr 2017

NG is at the bottom of the ascending channel. If it does not bounce, price could go lower. An inverse HS could be forming, pending confirmation.

Daily support/resistance on 24th Apr: 3.109, 3.134
Weekly support/resistance from 24th Apr - 28th Apr: 3.166, 3.119
Monthly support/resistance for Apr: 3.125, 2.992  (NGK7: 3.143, 3.045 )
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 24th Apr - 28th Apr 2017

CL has a bearish week, Right now, price is at the 200 MA/EMA area as well as at the 61.8 fibo level. This could trigger a bounce but I am not sure how strong the bounce is. Would this be the bottom or more low coming? Based on the trendlines, it seems that price could drop further down. If it breaks and hold below the trendlines, it would be rather bearish.





From the 4hr chart, we can see a small red hammer at the lower BB. Based on the small green hammer on the left, a bounce / rally occured thereafter. The only difference is it is a red hammer. Would we see a bounce next week?


From the monthly TF, it seems possible that price may drop to the mid of BB. Notice that the BB is narrowing. A big move is in the making! Be vigilant!


Daily support/resistance on 24th Apr: 49.78, 50.07
Weekly support/resistance from 24th Apr - 28th Apr: 51.25, 50.17
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 17th Apr - 21st Apr 2017

NG has a weekly doji candle which is still within the ascending channel. Holding the resistance above would be very bullish.

From the daily TF, a potential inverse HS is seen. As long as it stay above the lower channel line, NG could gain momentum for a break of the resistance line above.

From the monthly TF, as long as price is above the long term resistance turned support trend line, it could move to touch the 2nd long term resistance trend line above.

Daily support/resistance on 17th Apr: 3.225, 3.196
Weekly support/resistance from 17th Apr - 21st Apr: 3.23, 3.213
Monthly support/resistance for Apr: 3.125, 2.992  (NGK7: 3.143, 3.045 )
Monthly support/resistance for Mar: 2.804, 2.875   
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 17th Apr - 21st Apr 2017

CL has a slight bullish week. It is slightly above the neckline of the inverse H&S and is now in the previous area of 3 months long consolidation.

In the daily TF, there is a possibility of a cup and handle pattern. However, the blue or black lines is more possible?

There are 2 resistance area as circled in yellow. Currently it is in the first area, and overcoming it will lead us to the 2nd area, as long as price is within the ascending channel.

Daily support/resistance on 17th Apr: 52.98, 53.11
Weekly support/resistance from 17th Apr - 21st Apr: 52.95, 53.03
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
Monthly support/resistance for Mar: 53.71, 53.13 (CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 10th Apr - 14th Apr 2017

NG has a weekly spinning top at the mid of BB. This means indecision. Confirmation of the direction is needed in the next 1 or 2 weeks.


In the daily TF, price is resisted by the purple resistance line shown below. Overcome the resistance line could see NG heading to close the gap above while failure to push above could see Ng heading down again to possibly to the ichimoku cloud support.

Daily support/resistance on 10th Apr: 3.264, 3.293
Weekly support/resistance from 10th Apr - 14th Apr: 3.244, 3.234
Monthly support/resistance for Apr: 3.125, 2.992  (NGK7: 3.143, 3.045 )
Monthly support/resistance for Mar: 2.804, 2.875   
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 10th Apr - 14th Apr 2017

Crude Oil has a bullish week partly due to US airstrike against Syria, and tension between North Korea and US. It is quite possible the upper channel could be hit in the next few weeks or in a couple of months time.



I am watching if price will hold above the neckline of the inverse HS. If it does, it could stuck in the previous tight range for a while before heading higher.

From the monthly TF, if price could hold inside the ascending channel in April, we could see price heading to the upper channel trend line in the next couple of months!

Daily support/resistance on 10th Apr: 52.27, 52.22
Weekly support/resistance from 10th Apr - 14th Apr: 52, 51.41
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
Monthly support/resistance for Mar: 53.71, 53.13 (CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28

Natural Gas Trading: Weekends Post for the week 3rd Apr - 7th Apr 2017

NG is holding above the 1st downtrend line in the monthly TF. If it continues to hold above, the long term target is probably the 2nd downtrend line.


In the weekly TF, price is back into the ascending channel. The resistance is shown on the weekly and daily TF charts below.

Daily support/resistance on 3rd Apr: 3.196, 3.203
Weekly support/resistance from  3rd Apr - 7th Apr: 3.172, 3.132
Monthly support/resistance for Apr: 3.125, 2.992  (NGK7: 3.143, 3.045  )
Monthly support/resistance for Mar: 2.804, 2.875   (NGJ7: 2.83, 2.952  )
2017 Yearly support/resistance: 3.415, 2.757

Crude Oil Trading: Weekends Post for the week 3rd Apr - 7th Apr 2017

Crude oil closed above the ascending channel in the monthly TF. It had a bullish week .

In the weekly TF, it can be seen that there seems to be a triple bottom and the price closed above all the resistance trend lines shown below. The question is would crude oil goes to the upper trend line of the ascending channel? The resistance is as shown below and the neckline of the inverse H&S is also another resistance to be broken. I guess crude oil might stuck in the range circled below before the next opec meeting. Let's see.


In the daily TF, the next 2 resistance is shown below.

Daily support/resistance on 3rd Apr: 50.69, 50.38
Weekly support/resistance from 3rd Apr - 7th Apr: 50.22, 48.97
Monthly support/resistance for Apr: 50.81, 50.73 (CLK7: 50.88, 50.93, CLM7: 51.31, 51.38)
Monthly support/resistance for Mar: 53.71, 53.13 (CLJ7: 53.82, 53.45, CLK7: 54.27, 53.93)
2017 Yearly support/resistance: 49.35, 40.28