rounded corner
rounded corner
top border

Natural Gas (NG) Retesting Descending Wedge Resistance


Bookmark and Share

Natural Gas (NG) tacked on another 2% plus yesterday, after rocketing more than 10% Monday. Significantly, NG is going into today's European morning seeing a bit of healthy profittaking ahead of Thursday's highly anticipated weekly storage, but remaining above downchannel resistance (on the 4hr chart) and descending wedge resistance (on the daily chart). Any weekly candle close this week above descending wedge resistance (on the weekly chart) not only produces the first green weekly candle in 9 weeks, but dramatically furthers NG's efforts to bounce off the near 20 year plus lows seen Friday. Congratulations to premium readers who profited from the opportunities highlightedApril 1st,April 17thand onMay 1st. Except for the weekly MACD which still slopes down, the weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am looking at going long in the green zone (of the daily chart), targeting the red zone for Tuesday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).

Click hereto read the analysis ofSilver,Arabica Coffee

Natural Gas (NG) Weekly/Daily/4hr

NG (Natural Gas) Technical Analysis

Mylatest Bitcoin biweekly commentary (published Jul 1)withICE Futures Singaporeis now available.

BTCUSD SPX correlation


Equities & ETFs

Latest trades published forPremium MembersJun 29th.

Equities & ETFshas taken on a new format where it is now an Entries/Exits style service inspired by technical analysis on a collection of equities and ETFs.The 25 equities and ETFs initially profiled for their beaten down, trend reversal potential, between April 17 to May 22, 2020, have mostly ran up tremendously since then, and are assumed to be closed trades as of June 10th using the day's opening price.Congratulations to allPremium Memberswho profited from these long equity/ETF ideas soon after they were initially profiled.

I will look to explore newlong/shorttrade ideas on Equities & ETFs withPremium Memberswith a target of 5 multi-week to multi-month swing trades each month. Technical analysis for Free Members will continue to be available each Saturday on the monthly and weekly charts for 5 Equity/ETF markets.

Join the world's largest asset manager and 2 of the world's 5 largest (and 4 of the 10 largest) hedge funds by AUM as daily readers of Tradable Patterns' technical analysis.Since becoming available on Bloomberg, Refinitiv and FACTSET, readers have included every single one of the global top 10 investment banks. If you represent an institutional investor or potential distribution partner, write toinfo@tradablepatterns.comto request Bloomberg, Refinitiv and Factset readership reports.

Also seen onFT (Financial Times),Interactive Brokers,ICE Futures Singapore,Amazon, Zerohedge,CNA,Spotify,Liquid (Quoine), EXMO, SuperCryptoNews and Alphien,Tradable Patterns (https://tradablepatterns.com)publishes 3 newsletters:Today's Top 3 Trades,Equities & ETFsandCrypto Weekly Outlook.

Today's Top 3 Trades, Equities & ETFs, Crypto Weekly Outlook and all other Tradable Patterns content do not constitute an advisory and do not make recommendations, but can supplement your own analysis. Please do your own due diligence ahead of any trades.



Recent articles from this author



About the author


Before the launch of Tradable Patterns , Darren Chu, CFA, served as IntercontinentalExchange | NYSE Liffe's country manager for Australia, India, and the UAE between July 2010 and January 2014, expanding his role to look after Liffe business development in APAC ex-Japan/Korea until his departure mid April 2014.  His primary remit was developing relationships with Liffe clients, prospects and partners in the buyside (traditional and alternative asset managers), proprietary trading (high frequency algo as well as manual, point and click traders), bank, broker (institutional and retail), commodity trader and ISV community.  Key futures and options promoted included European/London rate benchmarks such as the Euribor, Short Sterling, Gilts, London/European index futures including the FTSE and CAC, London soft commodities (Robusta Coffee, Cocoa, White Sugar), Paris (MATIF) markets (Milling Wheat, Rapeseed), and NYSE Liffe US markets with the MSCI EM, MSCI EAFE, gold/silver, Eurodollar, US Treasury and GCF Repo futures being the focus.

 

Previously, Darren was with the TMX Group | Montreal Exchange for 4 years, marketing Canadian futures and options across North America, London, Singapore and Hong Kong.  Darren also launched and managed CMC Markets Canada's Chinese marketing and sales team, along with educational offering.  On the academic trail, Darren has been a frequent guest speaker at Canadian universities as well as an author of content for 3 derivatives courses offered by Canadian Securities Institute and mandatory for licensing of Canadian derivatives industry professionals.

 

Darren can be reached at +65 8118 8840 or via email at darrenchu@tradablepatterns.com.

 

 

 

contributing author since 11/21/2017 

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2020 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy