Natural Gas Does it Again: Heads Down for the 3rd Straight Day

The Hourly View for Natural Gas

  • Currently, NG1’s price is down $0 (-0.03%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Natural Gas has now gone down 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Natural Gas. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Natural Gas’s hourly price chart is shown below.

NG1

Below is a daily price chart of Natural Gas.

NG1

Featured Natural Gas Idea From TradingView

Below is a trading comment entitled FOMC Minutes: A confirmation for an explosive rally in XAUUSD you may find interesting:

Gold has started collapsing nonstop after Nonfarm Payrolls data. And it stopped at my ‘ tested many times ‘ level. XAUUSD has recovered 50% almost in the previous week.The gold spot needs to break the 1793.6 level to start an uptrend. Afterward, it will go for 1806 – 1826 levels. And these levels can push the gold price up to 1900 .But if gold breaks the strong support again, it will start falling. This time, it won’t stop! Hence, the short-term traders can start selling from there for the targets of 1744 – 1726 – 1684 .For advance traders, watch significant releases or events that may af…

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