Natural Gas (US): Strong trend

A strong uptrend is in progress after the recent breakout above 3.01. This old resistance is now solid support for any dip that occurs, although it is unlikely that dips will go that far with current market dynamics.  Focus is on the barrier at 3.634 and the first significant projection around 3.74.

  • Primary trend: positive
  • Outlook: positive, but dips
  • Support: 2.755 / 2.658 / 2.55 / 1.629
  • Resistance:  3.226 / 3.634 / 3.74+

Daily chart Natural Gas (Nymex)

25 September 2018

The longer term outlook remains very choppy and basically neutral within the broad range 2.55 and 3.226. The near term outlook is improving after clearing daily pivots at 3.01. A serious test of the longer term resistance zone is highly likely. Clearing this zone means the start of a new primary uptrend.

For now a moderately bullish stance is justifiable as long as 2.755 holds as new support.

  • Primary trend: neutral
  • Outlook: growing bullish undertone, moderately positive
  • Support: 2.755 / 2.658 / 2.55 / 1.629
  • Resistance:  3.01 / 3.226 / 3.74+

Daily chart Natural Gas (Nymex)

4 September 2018

The longer term outlook remains very choppy and basically neutral within the broad range 2.55 and 3.226. The near term outlook is slightly bearish and suggesting a re-test of the lower part of the aforementioned trading range. Weakening indicators and growing pressure around 3-even support this idea.

Actively shorting the market is a risky due to the neutral character the longer-term outlook, but with stops nearby short-term traders could pick up some short-entries around current levels. 2.658 and the more important 2.55 area are the main targets.

  • Primary trend: neutral
  • Outlook: long-term neutral, near-term bearish
  • Support: 2.658 / 2.55 / 1.629
  • Resistance:  3.00 / 3.226 / 3.74+

Daily chart Natural Gas (NYMEX)

22 June 2018

Prices are all over the place within the rather broad trading range 2.55<>3.74. There is no clear bias so we suggest to avoid to engage in some range trading if your risk appetite allows for it.

  • Primary trend: neutral
  • Outlook: super choppy neutral range, uncertain
  • Support: 2.785 / 2.55 / 1.629
  • Resistance:  3.226 / 3.74+

Weekly chart Natural Gas

4 May 2018

A lasting break above 3.431 is needed in order to generate a new uptrend and long-entry signal. A successful break should propel prices towards 3.781 and 4.11 with ease. Note that in Euro’s the outlook is neutral at best.

  • Primary trend: neutral
  • Outlook: super choppy neutral range, uncertain
  • Support: 2.590 / 1.629
  • Resistance:  3.685 / 5.328+

Weekly chart Natural Gas