NatGas weekly charts

Anyone else agree with me on Nat Gas being bought here? I just did yesterday for a hold for a few months.

Not yet, it's been trading 4-4.60 for last couple of month's, now is in middle of that range, one more run-up next week, than it down it goes to bellow 4,
just my opinion.

greenweech

if u are low risk trader or small investor, then either don't trade in NG or don't go positional long or short..
its highly volatile...

Henry Hub spot price continue to rise, as it did for the past three days, yesterday it rose by 1.4% reaching 4.23 $/MMBTU. Nonetheless, Natural gas spot price (Henry Hub) only completed a mere a 0.7% for the entire month of December.

Dattatreya, my risk is the same on short term trades vs long term trades. I risk a small amount on each position. I have a stop loss in place if wrong.
I think that the low wont be broken, but the overall trend has been down so I am fighting the monthly/ weekly trend. Mozart might be correct, But I will ride the trade to eithier get stopped out or weekly low and target of 7 dollars or so

Best

The first week of 2011 started off with major energy commodities and precious metals rising. The main gainer is Natural gas NY city gate that rose yesterday by 15.7%, followed by Henry Hub that rose by 7.3%, and finally the Nymex Henry Hub Future Prices (futures for February) rose by 5.8%.

My guess it's probably related to the January effect, unless there other suggestions from the floor..

Natural gas price (Henry Hub) wasn't (as expected) correlated to major currencies, as oil price was during Dec. The most correlated exchange rate to Natural gas was the USD/YEN with a -0.29 correlation. This was very similar to the level of correlation registered during November (-0.31).

For Natural gas prices there was a less consistent change yesterday: The natural gas spot price (Henry Hub) continues to increase, this time it rose by 1.3%; the Nymex Henry Hub Future Prices (futures for February) fell by 1.6%; while natural gas spot price (NY city gate) after it had risen by 15.7% on Monday, yesterday it fell by over 5%.

The crude oil/natural gas ratio currently stands at 20. Historically, the crude oil/natural gas ratio has averaged 10 and based on an energy equivalent basis, crude oil and natural gas prices should have a 6 to 1 ratio. Brand new fracking technology has caused natural gas supplies in the U.S. to rise to record levels. Although our country might be flooded with natural gas, the natural gas fracking boom that is taking place across the U.S. today is causing ground water in the U.S. to become contaminated. Americans living near natural gas wells that use fracking, are finding that they can now light the water coming out of their faucets on fire. New government regulations are likely to crack down on natural gas fracking and this will come at the same time as American individuals and businesses begin to convert their automobiles and machinery to run off of natural gas. A large decline in the crude oil/natural gas ratio in 2011 is likely, possibly down to as low as 15.

give us a link

i little bit technical ...
Daily chart. price touched 50 % fibo from all down impuls and return to 38.2 %
Monthly chart we have major white T.L. and two possibilities 1 to break and 2 to reject . laso there is a hammer from the the lowest point of 2010.

Geo - what's your view on Nat Gas for 2011??

Several Months Target for me is at least 7 dollars. I dont think low will be broken. Stilld holding long from weeks ago. Long Term trend is still of course down, but I like the med term support holding and rising channels. Of course I could be wrong, but will exit only above 7 or stopped out below last years low. Point has been made about supply being great, fair enough. But how many times has oil inventories/dollar index; actually reverse when fundys say other way? Perfect world would be supply and demand, but it seems there is so many factors to consider being that traders are just trading it heavily that trading on fundys is almost impossable unless its very long term. I dont say this for forex though, I know guys who trade very well in that market. Until proven otherwise, please correct me If I am wrong with data would be ideal. Example, why is Apple down now after those solid earnings? Traders wanting better price level? Over Bought? Actual adjusted P/E out of whack? No idea, but it went down. Price reflected it. Every one will have there idea of why it did and thats what makes this so great.




Best

Yea, just flow the trend... I`m bull with natural gas, right know. In this moment almost all the commodities are bearish, even the NG, but I guess is just because is tuesday in Tokio. I hope tomorrow with USA in the game the GN take a short bull trend, maybe 5.000 or even 5.600, Is my feelling of the trend.

Natgas support is close to 4.3.
Care must be taken because it is possible that the trend back down.
Chart daily

Stand by on the support

we are going to see 2 usd natgas 2011.

thanks and greets, and what do you think about the petroleum, with all the problems in Tunez and now in Egipt. I just a normal response o we are seeing the begining of a new uptrend. The same question about the gold. I know you arent assesors but I would like to know what do you thinks

Greets.

I am betting against your 2 usd forecast. Will see what happens.

NIMEX natgas doesnt respond to panic oil . spot now 4.320 http://www.futurespros.com/energies/natural-gas
will see 2 usd spot this year