TAG: brucegas
Natural Gas Price Forecast: Bullish Weekly Reversal Points to Higher Prices
Natural gas triggered a bullish reversal on Monday in both the daily and weekly time frames, as it advanced above Friday’s high and then exceeded last week’s high of 1.83. It continues to trade near the highs of the day at the time of this writing and is...
6 months ago
Natural Gas Price Forecast: Breakout Potential Above 50-Day MA
Natural gas rallies to test resistance around the 50-Day MA with the day’s high of 1.88. So far, resistance has been seen off the high leading to a minor intraday pullback. Nonetheless, at the time of this writing, natural gas is on track to close strong,...
6 months ago
Natural Gas Price Forecast: Daily Bullish Reversal Signals End to Pullback
Natural gas triggered a daily bullish reversal on Monday, pointing to the likely completion of a three-day correction. Following a new pullback low of 1.75 earlier in the session and test of support at the purple 8-Day MA, also at 1.75, natural gas turned...
6 months ago
Natural Gas Price Forecast: Moving Average Breakout Improves Bullish Outlook
Natural gas closed above its 50-Day MA for the first time since mid-January on Monday. That is a sign of strength that should see demand increase in the coming days. A teaser occurred today as natural gas rallied above the recent 1.91 minor swing high bef...
6 months ago
Natural Gas Price Forecast: Hits New Trend High and Pulls Back
Natural gas continued its advance on Wednesday with a new minor trend high of 1.94. Although Tuesday’s closing price relative to the day’s range was not particularly strong, it did manage to close at its highest daily closing price in 23 trading days. Tod...
6 months ago
Natural Gas Price Forecast: Testing Support Amidst Consolidation
Natural gas retreats further from Wednesday’s 1.94 high on Thursday as it tests support around the 20-day MA with the day’s low of 1.77. The 20-Day line is at 1.76 and it is strengthened by the long-term downtrend line, which marks the same price area. No...
6 months ago
Natural Gas Price Forecast: Testing Support Amidst Low Volatility
Natural gas dipped briefly below the minor 1.75 swing low from Monday before finding support at 1.73 and stalling the descent. Volatility diminished as it is on track to complete a narrow range day while further testing support around the long-term downtr...
6 months ago
Natural Gas Price Forecast: Breaks Support, Eyes Lower Price Levels
The bearish correction in natural gas continued Monday with a drop below support of both the downtrend line and 20-Day MA. Selling accelerated following the breakdown, with natural gas still trading near the lows of the day and creeping lower at the time...
6 months ago
Natural Gas Price Forecast: Decline Extends, Approaching Bearish Pennant Bottom
Natural gas further weakens on Tuesday, falling to a new pullback low as it heads towards the bottom of a bear pennant at the purple line on the chart. If reached today, the price represented by the line would be approximately 1.63. Trading continues near...
5 months ago
Natural Gas Price Forecast: Volatility Decline Setting Stage for Pennant Breakout
Natural gas further consolidates on Wednesday within a bear pennant pattern. It is on track to end the day as a relatively narrow inside day. Yesterday’s low of 1.65 approached a test of support at the lower trendline of a developing bear pennant consolid...
5 months ago
Natural Gas Price Forecast: Rebound Faces Resistance at Moving Average Zone
Natural gas bounces to test a moving average resistance zone with the day’s high of 1.78. Today’s advance (Thursday) broke out above the high of Wednesday, which was an inside day. Natural gas is on track to end the day above yesterday’s high of 1.72. How...
5 months ago
Natural Gas Price Forecast: Stuck Inside Consolidation Range
Natural gas shows signs of strength but cannot sustain it. A breakout above the three-day high of 1.80 triggered today before resistance was seen around 1.81. That led to a selloff that took natural gas down to the lower half of the day’s range.Although t...
5 months ago
Natural Gas Price Forecast: Bullish Weekly Setup on Deck
Natural gas rises on Monday but continues to trade within the price range from last Tuesday with momentum and volatility muted. Tuesday’s high was 1.80 and it was briefly exceeded to the upside on Friday, with a high of 1.81. It looks like natural gas is...
5 months ago
Natural Gas Price Forecast: Potential for Bullish Momentum Builds
Natural gas has begun to break out above last week’s high of 1.806 as it again tests that price area as resistance with Tuesday’s high of 1.808. At the time of this writing, it is on track to end the session with a bullish continuation hammer candlestick...
5 months ago