Fishing for a natural gas low
Chart updated with additional supports
Natural Gas and UNG Update 2020-01-07
I'm going to use the weekly UNG chart for the big picture and then switch to the daily natural gas futures chart for the fine details.
Natural Gas via UNG Update 2019-09-26
UNG has moved up to test the first weekly resist in what looks like an impulsive move and is now retracing. Will be watching 19.98 and 19.21 as possible wave ii support.
Natural gas starting to simmer…
Opportunities nearby for bulls
Newsletter: Natural gas UP-date, bulls advancing
This is a quick update for newsletter readers to show how the natural gas forecast is holding up. (Quick answer: it's working well.)
Natural Gas via UNG Update
I have been looking for a possible wave (v) low in UNG for the last couple months and it looks like we may have one that sticks. It has spent the last few weeks up from a test, and brief poke under, support at 18.10. Goal now is to establish a five wave move up for an initial impulse up. Resist at 21.81 and 22.89 on the weekly chart. I'm working on the premise that the dominant weekly cycle is inverting and thus for a net rise into the end of the year.
Newsletter: Natural Gas ETF might be a long-term buy
This week we want to alert our newsletter readers to what might be a very durable low in the United States Natural Gas Fund (UNG). You are among the first people to see the chart. There are several...
Natural Gas via (UNG) – 2019-06-02
When I last wrote on UNG, I was looking for a possible truncated wave (v) low in conjunction with a projected cycle low for the year. Prices did in fact climb but was rejected by initial resist at 23.31. Despite that, the overall forecast for a possible low for the year in development is the same.
Natural gas preparing to lift
It might be making a durable low
Natural Gas via UNG
UNG, the ETF that tracks natural gas, has elected to take the alternate path from when I last posted these charts by pushing to a new low under that of the 2016 low. The dominant cycle has shifted a...
Natural Gas via (UNG) 2017-10-14
The outlook for UNG has not changed over the last few months. It has failed to rally much but then hasn't fallen either. Still favor a bounce that can test the highs from last year.
Natural Gas (via UNG) 2017-08-28
Updated weekly chart but very little change from the earlier post here which you should read as a reminder of the possibilities. The most noteworthy difference is that the cycle detection is focusing on a shorter cycle which has the ideal low at the end of September.
Natural gas set to bounce
We are watching natural gas prices very closely right now. The technical picture makes a strong case to expect a reversal and rally soon.
Natural Gas via (UNG) 2017-07-10
The dominant weekly cycle in UNG is bottoming out now and starts to turn up into early 2018 making it interesting to see if a higher low or test of the previous 2016 low takes place over then next...
Natural Gas via (UNG) 2017-06-18
In general, have been thinking that natural gas has been feeling its way to a higher low to that of 2016 and still think that is the case. The alternate count is that the late 2016 high was yet...
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...
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. The monthly cycle...
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...
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...
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. The advance up from last...