You can buy NG at 55% discount now, maybe more later

24 déc. 2019

While the equity markets are in upward frenzy, with Nasdaq, Dow Jones and S&P500 registering double digit growth this year, Natural Gas has been the wet blanket in the party.

From early Jan this year to current price, it has fallen more than 50%. Currently, it sits on a nice support level at 2.188 which is a possible buy entry for the more aggressive buyers.

For those who wish to wait a while more, let the price action break out of the bearish trend before initiating your buy.

Please note that on the day chart, the entire price action is moving along a descending channel thus any buy is considered a counter-trend strategy. Nothing wrong with that so long you are comfortable with it and know the risks involved.

Also note that if support at 2.188 fails to hold, then we can expect the price to head south towards 2.028 and 1.892.

If you check out the weekly or monthly chart, you would see that Natural Gas has been trending down since 2014 to 2016. It made an attempt to rebound in Mar 2016 till Nov 2018 before heading to current depressed price.

So , if you want to buy Natural Gas, ensure you have the power to hold for longer term, min 1 year before you can see any decent jump in pricing.

The downside is lesser compared to the potential upside. We are monitoring closely before initating a buy.

26 déc. 2019

Note

Please note one important thing. When chart is being condensed to show more candles pattern, it become a challenge to draw trend line to depict the precise price.

If you note carefully, there is a support at 2.158 on 9 Dec (a bullish hammer) and 24 Dec candle retest this level and rebound strongly. Now, let's hope the gap between 2.268 and 2.311 can be filled up asap.

Congrats to those who bought at a good discount.

26 déc. 2019

Note

Praise Lord, it's nearly a 4% profits if you long today. That is the nice but also scary part of commodity trading, offering a heaven or hell ride depending on how you see it.

Congrats to those who followed.

2 janv. 2020

Note

strong support at 2.15, it might rebound from here.

3 janv. 2020

Note

Nope, it didn't support at 2.15, it may falls to 2.08 where I would be happy to buy more.

7 janv. 2020

Note

It has now broken out of the bearish trend line but with a weak close. Breaking above 2.188 would be a stronger confirmation to buy as there is a possibility of this being a fake breakout.

9 janv. 2020

Note

Well done, it has now broken out of the bearish trend line. Look closely, it did that 3 times. Let's hope it will break through the resistance and ride higher that it sorely deserved.