Category: Energy

Natural gas via (UNG) 2017-05-19

When I last posted on UNG, we were looking for lower into the daily cycle low and a weekly inflection. Prices have consolidated since then but have failed to pullback much. This behavior can be setting up a strong move higher over the next month or so if the weekly cycle manifests as a inversion.

Crude Oil 2017-04-17

Crude will be rolling into June tomorrow thus advance my chart to the June contract. The dominant daily cycle should be peaking over the next few days which along with the contract roll may be putting in an ‘a’ wave high.

Natural Gas via UNG 2017-04-07

When I last visited UNG, I was looking for a low and a turn up with the daily cycle. This has played out and should now look for a retrace lower over the course of several weeks.

Crude Oil 2017-03-26

Crude has spent this month falling away from geometric resist and may leak lower yet over the next week or two but is running out of time for this segment of the down leg.

Crude Oil 2017-03-12

Crude is finally falling away from channel geometry. The path to a new low should not be expected to be a straight line, this is a good start.

Natural Gas via (UNG) 2017-02-28

I have thought that UNG has needed to trade lower but have been watching for a possible low to form late February or early March. A case can be made for the ultimate low to be in April but not comfortable calling for much lower.

Crude Oil futures 2017-02-14

Remain skeptical about the low made in 2016 being the ultimate low but that doesn’t mean modestly higher first is impossible.

Natural Gas via (UNG) 2017-02-02

Natural gas has been moving lower for the last month. The advance from the low last year to the October high did not have an impulsive look and at the time argued for a move to a new low. That was followed by a swift drop in November that failed to make a new low. […]

Crude Oil futures 2017-01-26

Crude has moved up today thus taking this as an opportunity to post monthly and weekly chart. There is no doubt some thinking they are on a verge of a break higher but caution against being overly enthusiastic and think it would be easy for the market to take back the advance.

Natural Gas via UNG

I have gone back and forth trying to decide if a new low to March 2016 low is needed and think I have found a way to thread the needle. Net, no, a new low is not required.