Natural Gas Does it Again: Heads Down for the 2nd Straight Day

The Hourly View for Natural Gas

  • Currently, NG1’s price is down $-0.01 (-0.28%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Natural Gas’s hourly price chart is shown below.

NG1

The Daily View for Natural Gas

  • At the moment, NG1’s price is down $-0.12 (-2.35%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Natural Gas has now gone down 5 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Natural Gas.

NG1

Featured Natural Gas Idea From TradingView

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