Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Fri Nov 26 10 07:40 ET

Natural gas' rally resumes after brief consolidation and reaches as high as 4.411 so far today. Intraday bias remains on the upside for further rally. Current rise from 3.255 should now be targeting next key resistance at 5.194. On the downside, below 4.115 minor support will turn intraday bias neutral again. But after all, we'd still favor another rise as long as 3.71 support holds, even in case of deep retreat.

In the bigger picture, break of the falling trend line from 6.108 add some credence to the case that decline from there is completed with three waves down to 3.22 already. That is, it's merely a correction to rebound from 2.409. Further rise should be seen to 5.194 resistance for confirmation and break will target another high above 6.108 in medium term.

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Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Fri Nov 26 10 07:40 ET

Natural gas' rally resumes after brief consolidation and reaches as high as 4.411 so far today. Intraday bias remains on the upside for further rally. Current rise from 3.255 should now be targeting next key resistance at 5.194. On the downside, below 4.115 minor support will turn intraday bias neutral again. But after all, we'd still favor another rise as long as 3.71 support holds, even in case of deep retreat.

In the bigger picture, break of the falling trend line from 6.108 add some credence to the case that decline from there is completed with three waves down to 3.22 already. That is, it's merely a correction to rebound from 2.409. Further rise should be seen to 5.194 resistance for confirmation and break will target another high above 6.108 in medium term.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Fri Nov 26 10 07:40 ET

Natural gas' rally resumes after brief consolidation and reaches as high as 4.411 so far today. Intraday bias remains on the upside for further rally. Current rise from 3.255 should now be targeting next key resistance at 5.194. On the downside, below 4.115 minor support will turn intraday bias neutral again. But after all, we'd still favor another rise as long as 3.71 support holds, even in case of deep retreat.

In the bigger picture, break of the falling trend line from 6.108 add some credence to the case that decline from there is completed with three waves down to 3.22 already. That is, it's merely a correction to rebound from 2.409. Further rise should be seen to 5.194 resistance for confirmation and break will target another high above 6.108 in medium term.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Thu Oct 21 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment and more consolidations could be seen above 3.395 temporary low. Though, outlook remains bearish as long as 3.777 resistance holds and fall from 4.144 is still expected to continue. Below 3.395 will target 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281 next. On the upside, however, above 3.777 will argue that fall from 4.144 is over and bring stronger rebound towards this resistance.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

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Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Fri Nov 26 10 07:40 ET

Natural gas' rally resumes after brief consolidation and reaches as high as 4.411 so far today. Intraday bias remains on the upside for further rally. Current rise from 3.255 should now be targeting next key resistance at 5.194. On the downside, below 4.115 minor support will turn intraday bias neutral again. But after all, we'd still favor another rise as long as 3.71 support holds, even in case of deep retreat.

In the bigger picture, break of the falling trend line from 6.108 add some credence to the case that decline from there is completed with three waves down to 3.22 already. That is, it's merely a correction to rebound from 2.409. Further rise should be seen to 5.194 resistance for confirmation and break will target another high above 6.108 in medium term.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Wed Nov 24 10 07:07 ET

Natural gas is losing some upside momentum but intraday bias remains mildly on the upside with 4.058 minor support intact. Current rise is still expected to continue towards falling trend line resistance (now at 4.4 level). On the downside, below 4.058 minor support will turn intraday bias neutral again. But after all, we'd still favor another rise as long as 3.71 support holds, even in case of deep retreat.

In the bigger picture, current development raises the possibility that fall from 6.108 has indeed finished with three waves down to 3.255. That is, it's merely a correction to rebound from 2.409. There is no confirmation of reversal yet and key focus will be on mentioned trend line resistance from 6.108, now at around 4.4 level. Sustained break there will likely pave the way the another high above 6.108 in medium term. Though, a break below 3.255 will turn focus back to 2.409 low instead.

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Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Thu Oct 21 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment and more consolidations could be seen above 3.395 temporary low. Though, outlook remains bearish as long as 3.777 resistance holds and fall from 4.144 is still expected to continue. Below 3.395 will target 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281 next. On the upside, however, above 3.777 will argue that fall from 4.144 is over and bring stronger rebound towards this resistance.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Wed Nov 17 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment. Note that on the downside, break of 3.71 will now confirm that rebound from 3.255 has completed and will turn bias back to the downside for retesting 3.255 low. On the upside, Break of 4.249 will target falling trend line resistance (now at 4.4).

In the bigger picture, current development raises the possibility that fall from 6.108 has indeed finished with three waves down to 3.255, and failed 100% projection of 6.108 to 3.81 from 5.194 at 2.896. That is, it's merely a correction to rebound from 2.409. There is no confirmation of reversal yet and key focus will be on mentioned trend line resistance from 6.108, now at around 4.4 level. Sustained break there will likely pave the way the another high above 6.108 in medium term. Though, a break below 3.255 will turn focus back to 2.409 low instead.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Mon Nov 15 10 06:45 ET

Natural gas edges mildly lower today but recovers quickly. Outlook remains unchanged. Some more sideway trading would be seen in range of 3.743/4.429. But after all, rise from 3.255 is in favor to continue as long as 3.743 support holds. Break of 4.249 will target falling trend line resistance (now at 4.4). However, break of 3.743 support will indicate that rebound is finished and flip bias back to the downside for retesting this low.

In the bigger picture, current development raises the possibility that fall from 6.108 has indeed finished with three waves down to 3.255, and failed 100% projection of 6.108 to 3.81 from 5.194 at 2.896. That is, it's merely a correction to rebound from 2.409. There is no confirmation of reversal yet and key focus will be on mentioned trend line resistance from 6.108, now at around 4.4 level. Sustained break there will likely pave the way the another high above 6.108 in medium term. Though, a break below 3.255 will turn focus back to 2.409 low instead.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Thu Oct 21 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment and more consolidations could be seen above 3.395 temporary low. Though, outlook remains bearish as long as 3.777 resistance holds and fall from 4.144 is still expected to continue. Below 3.395 will target 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281 next. On the upside, however, above 3.777 will argue that fall from 4.144 is over and bring stronger rebound towards this resistance.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Thu Oct 21 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment and more consolidations could be seen above 3.395 temporary low. Though, outlook remains bearish as long as 3.777 resistance holds and fall from 4.144 is still expected to continue. Below 3.395 will target 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281 next. On the upside, however, above 3.777 will argue that fall from 4.144 is over and bring stronger rebound towards this resistance.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Thu Oct 21 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment and more consolidations could be seen above 3.395 temporary low. Though, outlook remains bearish as long as 3.777 resistance holds and fall from 4.144 is still expected to continue. Below 3.395 will target 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281 next. On the upside, however, above 3.777 will argue that fall from 4.144 is over and bring stronger rebound towards this resistance.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Thu Oct 21 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment and more consolidations could be seen above 3.395 temporary low. Though, outlook remains bearish as long as 3.777 resistance holds and fall from 4.144 is still expected to continue. Below 3.395 will target 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281 next. On the upside, however, above 3.777 will argue that fall from 4.144 is over and bring stronger rebound towards this resistance.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Thu Oct 21 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment and more consolidations could be seen above 3.395 temporary low. Though, outlook remains bearish as long as 3.777 resistance holds and fall from 4.144 is still expected to continue. Below 3.395 will target 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281 next. On the upside, however, above 3.777 will argue that fall from 4.144 is over and bring stronger rebound towards this resistance.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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Natural Gas Weekly Technical Outlook

Natural gas's decline continued last week as expected and breaches 3.3 level, just inches above mentioned target of 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281. Short term outlook will remain bearish as long as 3.613 resistance holds. Sustained trading below 3.3 will target next projection level of 100% projection of 6.108 to 3.81 from 5.194 at 2.896. On the upside, above 3.613 will indicate that a short term bottom is formed and bring stronger rebound towards 4.144 resistance instead.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

In the longer term picture, while the bounce from 2.409 was strong, it's been limited below 55 months EMA (now at 5.814) and reversed. The failure to sustain above 55 weeks EMA (now at 4.435) also argue that 2.409 might not be the bottom yet. We'll stay bearish as long as this year's high of 6.108 holds and favor a new low below 2.409 going forward.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

Nymex Natural Gas Continuous Contract Weekly Chart

Nymex Natural Gas Continuous Contract Monthly Chart

View the original article here

Natural Gas Weekly Technical Outlook

Natural gas's decline continued last week as expected and breaches 3.3 level, just inches above mentioned target of 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281. Short term outlook will remain bearish as long as 3.613 resistance holds. Sustained trading below 3.3 will target next projection level of 100% projection of 6.108 to 3.81 from 5.194 at 2.896. On the upside, above 3.613 will indicate that a short term bottom is formed and bring stronger rebound towards 4.144 resistance instead.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

In the longer term picture, while the bounce from 2.409 was strong, it's been limited below 55 months EMA (now at 5.814) and reversed. The failure to sustain above 55 weeks EMA (now at 4.435) also argue that 2.409 might not be the bottom yet. We'll stay bearish as long as this year's high of 6.108 holds and favor a new low below 2.409 going forward.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

Nymex Natural Gas Continuous Contract Weekly Chart

Nymex Natural Gas Continuous Contract Monthly Chart

View the original article here

Natural Gas Daily Technical Outlook

ONG Focus | Technical | Written by Oil N' Gold | Thu Oct 21 10 07:11 ET

Intraday bias in natural gas remains neutral for the moment and more consolidations could be seen above 3.395 temporary low. Though, outlook remains bearish as long as 3.777 resistance holds and fall from 4.144 is still expected to continue. Below 3.395 will target 61.8% projection of 5.007 to 3.61 from 4.144 at 3.281 next. On the upside, however, above 3.777 will argue that fall from 4.144 is over and bring stronger rebound towards this resistance.

In the bigger picture, whole decline from 6.108 is still in progress and further fall should be seen to 100% projection of 6.108 to 3.81 from 5.194 at 2.896 next. More importantly, recent development revived the case that medium term rebound from 2.409 is completed at 6.108 already. Also, fall from 6.108 might indeed be resuming the long term down trend for a new low below 2.409. We'll pay attention to the structure of the current decline for more hints. On the upside, break of 4.144 resistance will be the first signal of reversal. Further break of 5.007/194 resistance zone will in turn argue that fall from 6.108 has finished.

Nymex Natural Gas Continuous Contract 4 Hours Chart

Nymex Natural Gas Continuous Contract Daily Chart

 

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