Natural Gas Has Now Headed Up 8 Out of the Past 10 Days

The Hourly View for Natural Gas

  • At the time of this writing, NG1’s price is down $0 (-0.03%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 20 hour changed directions on NG1; it is now pointing down. 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.


The Daily View for Natural Gas

  • At the moment, NG1’s price is up $0.02 (0.54%) from the day prior.
  • Natural Gas has seen its price go up 8 out of the past 10 days, thus creating some compelling opportunities for bulls.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between NG1’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NG1’s price.

Below is a daily price chart of Natural Gas.


Featured Natural Gas Idea From TradingView

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General Electric was once a massive power producer. Back in 2017, turbine manufacturing was the company’s biggest business. Then it all went downhill.A turbine design defect (now fixed) forced potential power producers to put their purchase plans on hold. And then clean natural gas power began to lose its popularity as alternatives to solar power became more affordable. GE’s energy turbine revenues are now down to about half of their peak levels. This decline in sales has further trimmed the company’s bottom line of profits.Investors should pay attention to the fact that the company is changing. This could be an indicator that GE’s once-great energy business is slowly recovering.Of course, it’s hard to distinguish between organic growth driven by increased demand and growth that is merely the mathematical result of last year’s COVID-19-induced outages. For most companies, it’s probably a mixture of both.For General Electric’s power turbine business, however, it will likely be organic growth. Utility companies plan million-dollar investments years in advance and then maintain the purchased turbines for 20 years or more. The difficulties associated with time constraints designed to keep consumers at home are not a major hindrance to the power generation industry.Knowing this fact helps put the chart below in the right perspective. Last year’s modest orders and revenues for GE’s power division are not the result of the spread of the coronavirus.Rather, business began to decline in 2018 when several turbine blade failures took out too many GE-made gas turbines. General Electric quickly began responding, but its institutional customers were reluctant to do so until it became clear that the company’s turbines would not fail for a long time.It’s also naive to ignore the fact that around the same time that GE turbine blades began to fail, alternative energy sources were undergoing a real revolution, leading to a shift away from old technology and toward investment in cleaner, greener technologies. According to IHS Markit, the rate of annual photovoltaic panel installations mor…