Commodities

Natural Gas – Weekly Analysis

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Natural Gas Public Weekly

550

Since the call on May 18th, Natural Gas has lost over 16%, and today it’s time to evaluate the probabilities of the next move.

The chart posted on May 18th is below:

. . . In this overview we discuss recent technical events and forecast possible outcomes, evaluate candles and their formations, share the long and short term perspectives, and compare NG with BOIL and KOLD.

CANDLES

Natural Gas closed on Friday with bearish messages.

The weekly candles clearly completed a bearish reversal on a Harami. The daily continued the response to Tower Top and moved below the 50 DMA. The candle formation is neutral bearish.

Both daily and weekly trends are bearish and NG has higher chances for a continued move downwards.

The long term frames such as quarterly and larger remain bearish.

For a supporting evidence, I also analyzed the monthly candles formed by UNG, BOIL and KOLD.

. . . The entire report can be viewed with an active Energy pack subscription which also covers analytics for Oil, Uranium, and $XLE ETF.

Natural Gas Public Weekly

550

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