NatGas weekly charts

As for this week’s technicals, weakness below the week ending September 3rd's 3.693 low print alerts to our 3.577 inflection low. Below here we will look for offers to our 3.358 intra-week. On the other hand, a rebound above last week's 38.2% retrace of 3.940 opens the door to our 4.017 inflection high. Once crossed, the bulls should run towards our 4.236 intra-week high.

BUY NATURAL GAS

􀂃 Prices have bounced off the 3.800 level
as in early spring.
􀂃 Summer may be warmer than expected.
􀂃 U.S. manufacturing improving, pushing
up demand for electricity.
􀂃 Policy in Washington (if T. Boones gets
his way) will steer demand growth
disproportionally towards gas.

OR

SELL NATURAL GAS
􀂃 Production rebound (per EIA-14 Survey).
􀂃 Spare capacity (nonconventional deferred
production).
􀂃 Hurricane Season was a no-show (7.9 Bcf
actually shut in, expectations were of 57 Bcf)
􀂃 Residential natural gas use locked in to a
downward trend since 2006.
􀂃 Shale plays will fundamentally alter the
amount of domestic supply available.

So...again at the minimum of the year....

New low on UNG
NG off the lows and about to test the declining resistence/trend line on hourly chart statred on 30th OCT

2d

i think the news thursday will be bearish so we aproach 3.5 area....

we will need bearish news to break 3.680 area.

bears are dead right now ?

If so the short term resistence seems to be around 3875+/-20, should not be a problem to clear..

yes but i am preparing for news tomorrow. don;t wanna be cought in a bull trap

The bullish sentiment for gas
November crude oil futures benefited Wednesday from an unexpected decline in U.S. gasoline inventories last week, along with a weaker dollar.

Oil settled at $83.23 a barrel, a 41-cent improvement from Tuesday, after the U.S. Department of Energy announced that total gasoline stocks declined to 219.9 million barrels as of October 1. The latest figure represents a 1.2% decline from the previous week. The euro, meanwhile, gained 0.723% against the dollar to an exchange rate of US$1.3936 Wednesday. Since September 8, the euro has rallied nearly 9% against the greenback. A weaker dollar relative to the euro typically places upward pressure on oil prices.

The crude oil futures price peaked at $84.09 and bottomed out at $82.29.

Given the Energy Department's report on the refined product, gasoline for November delivery also ended the day higher Wednesday. Gasoline rose three cents to settle at $2.16 a gallon after trading from $2.11 to $2.165.

Colder temperatures are not expected to set in until later in the season--a prediction that has not been lost on natural gas traders lately as prices have been low in recent weeks. Nevertheless, gas futures settled at $3.865 per thousand cubic feet Wednesday--a 3.3% increase from the previous day. The bullish sentiment for gas stems from speculation that the Energy Information Administration would announce a decline in natural gas inventories in a weekly report Thursday.

The front-month price for natural gas fluctuated from $3.75 to $3.88.
http://www.rigzone.com/news/article....d=99765&hmpn=1

I AM EXPECTING +80 BCF from 3414 to 3494 BCF.

so it was very bearish 85 bcf

Yes but where is the bottom,
geo do you follow cot report?

yes i follow. first stop is 3.480 area. and then 3.200 area.

HI ALL. Some notes about Nat.Gas [bad English, sorry http://www.hotstockmarket.com/forums...lies/frown.gif]

On Nat.Gas future chart continue the analogy between sept.06/sept.07 [pre-skyrocket of 2008] and now, sept.09/???.10.
The virtual parallel-line of ascending sept.06/sept.07 now go to 3.4/3.5 level.
Watch this main level and analogy but do not fight the main trend.
previous chart in nearby and all contract curve
another previous chart all-contract.

Some annotation as follows:
-) there is a multiple set-up between descending (shadow) from top-2008, the virtual parallel to ascending sept.06/sept.07, and binary-level 3.6-area;
-) long-term green-envel. (II chart) and mid-term blue-envel. in bearish-array vs. daily-ema/5;
-) spread commercial/trenders shows high sell-pressure but small divergence vs. Nat.Gas 2010 lows;
-) MACD, PPO, TRIX in mid-long term frame (II chart) shows bearish array but small divergence vs. Nat.Gas 2010 lows.

Prices are at a point historically important and the analogy should be followed closely but not anticipate (risk of mini-collapse).

Tuned on beautiful blue.

http://img217.imageshack.us/img217/4...zsalvi0044.jpg

I.M.O. by $@!Ψ¥

thank you man

http://cdn.forexfactory.com/images/icons/icon7.gif... thanks to you, the master of this NG-3D ... http://cdn.forexfactory.com/images/icons/icon7.gif

this is my monthly chart. take a look at the trend lines and arrows i puted .

Do any of you guys trade the November - December Natural gas spread?

I have read that it is a pretty consistent trade that can be taken advantage of every year around this time (long NG XO short NG ZO).

Anyone heard about this/have any experience?

i trade natgas at www.xtb.ro .