Below is the possible pattern that I see in NG. The next few days will confirm if this is coming. Keep watching and stay tune!
Am I seeing a HS within a HS ? Keep watching and stay tune!
Tuesday, June 27, 2017
Saturday, June 24, 2017
Crude Oil Trading: Weekends Post for the week 26th Jun - 30th Jun 2017
5 weeks of red candles. It probably near the bottom for a bounce.
Below is a possible Elliot wave movement if the low holds.
If this monthly candle close below the mid of BB, Bulls could be in trouble unless there is a strong reversal. Breaking 40 could be a reality soon if bulls could not hold this support.
Below is a possible Elliot wave movement if the low holds.
If this monthly candle close below the mid of BB, Bulls could be in trouble unless there is a strong reversal. Breaking 40 could be a reality soon if bulls could not hold this support.
Daily support/resistance on 26th Jun: 43.07, 42.87
Weekly support/resistance from 26th Jun - 30th Jun: 43.67, 43.34
Weekly support/resistance from 26th Jun - 30th Jun: 43.67, 43.34
Monthly support/resistance for Jun: 48.38, 47.88 (CLN7, 48.44, 48.07 ; CLQ7: 48.68, 48.34)
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Natural Gas Trading: Weekends Post for the week 26th Jun - 30th Jun 2017
NG is slightly bearish this week, with a red hammer forming. Price looks to be back inside the descending channel. Does it mean it is going to bounce soon?
If NG is going to bounce next week, probably gap could be closed, And next week is option and contract expiration.
In the 4hr TF, we can see a small island below. Would there be an island reversal soon or would the island be forming a deeper and bigger island first?
From the monthly TF, price is very near the mid of BB. It seems like NG wants to test that support again. Would that support be tested soon?
Daily support/resistance on 26th May: 2.92, 2.918
Weekly support/resistance from 26th Jun - 30th Jun: 2.918, 2.913
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
If NG is going to bounce next week, probably gap could be closed, And next week is option and contract expiration.
In the 4hr TF, we can see a small island below. Would there be an island reversal soon or would the island be forming a deeper and bigger island first?
From the monthly TF, price is very near the mid of BB. It seems like NG wants to test that support again. Would that support be tested soon?
Daily support/resistance on 26th May: 2.92, 2.918
Weekly support/resistance from 26th Jun - 30th Jun: 2.918, 2.913
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
Saturday, June 17, 2017
Crude Oil Trading: Weekends Post for the week 19th Jun - 23rd Jun 2017
4 weeks of red but the red candle getting smaller. In the daily TF, there could be a potential double bottom. We have to watch closely if a bounce happen if not down we go near 40.
Price is still hovering the mid of BB in the monthly TF as if testing if the support is stronger for another rally. But with tight SL if you want to bet on a rally happening anytime.
Price is still hovering the mid of BB in the monthly TF as if testing if the support is stronger for another rally. But with tight SL if you want to bet on a rally happening anytime.
Daily support/resistance on 19th Jun: 44.65, 44.59
Weekly support/resistance from 19th Jun - 23rd Jun: 45.47, 44.94
Weekly support/resistance from 19th Jun - 23rd Jun: 45.47, 44.94
Monthly support/resistance for Jun: 48.38, 47.88 (CLN7, 48.44, 48.07 ; CLQ7: 48.68, 48.34)
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Natural Gas Trading: Weekends Post for the week 19th Jun - 23rd Jun 2017
Another doji week. This means the next movement would be big. The weekly ichimoku is still providing support to the price.
In the daily TF, a descending channel could be seen forming. Holding above the 3.1 resistance could mean a trend change. Right now, traders are betting on the summer heat to consume much of NG inventory.
From the 4hr TF, the measured target of the HS is reached. The ichimoku cloud is still resisting it up move though Thursday candles manage to rip inside the cloud. We shall see if it will continue to resist upwards move next week.
Daily support/resistance on 19th May: 3.037, 3.052
Weekly support/resistance from 19th Jun - 23rd Jun: 3.002, 3.021
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
In the daily TF, a descending channel could be seen forming. Holding above the 3.1 resistance could mean a trend change. Right now, traders are betting on the summer heat to consume much of NG inventory.
From the 4hr TF, the measured target of the HS is reached. The ichimoku cloud is still resisting it up move though Thursday candles manage to rip inside the cloud. We shall see if it will continue to resist upwards move next week.
Weekly support/resistance from 19th Jun - 23rd Jun: 3.002, 3.021
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
Saturday, June 10, 2017
Crude Oil Trading: Weekends Post for the week 12th Jun - 16th Jun 2017
Crude oil has a bearish week. However, there are indecision on Thursday and Friday. This could signal a bounce.
3 red weeks. If a bounce does not happen, we will have 4 red weeks.
Price is currently supported by monthly mid of BB and BB is still narrowing . It could still be finding support before rallying. Your guess is as good as mine.
3 red weeks. If a bounce does not happen, we will have 4 red weeks.
Price is currently supported by monthly mid of BB and BB is still narrowing . It could still be finding support before rallying. Your guess is as good as mine.
Daily support/resistance on 12th Jun: 45.84, 45.73
Weekly support/resistance from 12th Jun - 16th: 46.81, 46.2
Weekly support/resistance from 12th Jun - 16th: 46.81, 46.2
Monthly support/resistance for Jun: 48.38, 47.88 (CLN7, 48.44, 48.07 ; CLQ7: 48.68, 48.34)
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Natural Gas Trading: Weekends Post for the week 12th Jun - 16th Jun 2017
NG is trading at a small range this week. The trend is still bearish until a turn is convincing. The current bounce could be a bear flag or bear trap (for traders who keep shorting on bounce). The yellow area is the next expected resting area.
This week we have a spinning top which means traders are undecided on the direction. The next 1 or 2 weeks should have a better clue on where price is heading.
In the monthly TF, price is slightly above the mid of BB. If weather become more bearish, this could get tested.
In the 4hr TF, the ichimoku cloud has become the resistance. NG needs to overcome it to go higher.
Daily support/resistance on 12th May: 3.045, 3.047
Weekly support/resistance from 12th Jun - 16th Jun: 3.034, 3.015
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
This week we have a spinning top which means traders are undecided on the direction. The next 1 or 2 weeks should have a better clue on where price is heading.
In the monthly TF, price is slightly above the mid of BB. If weather become more bearish, this could get tested.
Daily support/resistance on 12th May: 3.045, 3.047
Weekly support/resistance from 12th Jun - 16th Jun: 3.034, 3.015
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
Sunday, June 4, 2017
Crude Oil Trading: Weekends Post for the week 5th Jun - 9th Jun 2017
Oil turned bearish after OPEC meeting. On Friday a some kind of pin bar is created. Do we have a bounce going forward or are we going more down to fill the gap below?
We have a doji in May. I am expecting consolidation range the next few weeks. Mid of BB is support price. Swing traders may get bored.
In the weekly TF, ichimoku cloud is currently supporting the price. Downside risk could be limited though as summer driving is around the corner.
We have a doji in May. I am expecting consolidation range the next few weeks. Mid of BB is support price. Swing traders may get bored.
Daily support/resistance on 5th Jun: 47.65, 47.47
Weekly support/resistance from 5th Jun - 9th Jun: 48.51, 48
Weekly support/resistance from 5th Jun - 9th Jun: 48.51, 48
Monthly support/resistance for Jun: 48.38, 47.88 (CLN7, 48.44, 48.07 ; CLQ7: 48.68, 48.34)
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Monthly support/resistance for May: 50.98, 49.79 (CLM7: 49.85, 51.17, CLN7: 50.15, 51.5 )
2017 Yearly support/resistance: 49.35, 40.28
Saturday, June 3, 2017
Natural Gas Trading: Weekends Post for the week 5th Jun - 9th Jun 2017
NG has a bearish week.It is now below the neckline of the possible inverse HS. The price is currently as 200 EMA. It could bounce to the 200 SMA and neckline if it holds. Otherwise, it could drop to the yellow area for the completion of the HS pattern.
In the weekly TF, price is still supported by the ichimoku cloud. Downside risk is limited at the moment.
Daily support/resistance on 29th May: 3.009, 3.02
Weekly support/resistance from 5th Jun - 9th Jun: 3.122, 3.043
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
In the weekly TF, price is still supported by the ichimoku cloud. Downside risk is limited at the moment.
May is a spinning top candle. This give June movement some uncertainty as we could possible is in the consolidation range. It could test the mid of BB before bouncing. Whatever it is, if summer is cooling NG is poised to be bearish.
Daily support/resistance on 29th May: 3.009, 3.02
Weekly support/resistance from 5th Jun - 9th Jun: 3.122, 3.043
Monthly support/resistance for Jun: 3.135, 3.246 (NGN7: 3.148, 3.284)
Monthly support/resistance for May: 3.241, 3.185 (NGM7: 3.271, 3.274 )
2017 Yearly support/resistance: 3.415, 2.757
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